Deception (social engineering): Company, Switzerland 2024
Fraudsters posed as the boss to a company in Central Valais and demanded a large payment.
- Incident · 01.2024 · Central Valais VS, Switzerland
- Evidence: confirmed by an authority
- Deception (social engineering)
- Fraud
As of
What happened
The company itself transferred around 300'000 francs to the perpetrators’ account. The Valais cantonal police took the case as an opportunity to warn of CEO fraud.
- Affected
- Company (anonymous)
- Industry
- other industry
- Loss
- CHF 300'000
- Figure given by the source
- around 300'000 francs
- Business interruption
- unknown
- Ransom demanded / paid
- unknown / unknown
- Data affected
- unknown
- Bankruptcy
- no
- Entry point
- fake payment instruction in the name of the boss (channel not stated)
What would cyber insurance have paid?
That depends on the terms. Whether those affected were insured: unknown.
-
CEO fraud, diverted payment, fake invoice
Mostly add-on 5 of 9 business products cover it fully, as an add-on or with limits.
Overview based on public policy terms, as of 06.11.2026. Only your policy and its general terms and conditions (GTC) are binding. No confirmation of cover.
What we can learn
Never make large payments on the basis of a message alone; check back with the boss via a second channel.
Sources
- 300'000 Franken plötzlich weg: Walliser Polizei warnt vor CEO-Trick (opens in a new window) Blick (gestützt auf Kantonspolizei Wallis) · 24.01.2024