Mr. Rajan, the CEO of a mid-sized company, has received an email requesting him to urgently update his account details due to a supposed security…

CA Final · Advanced Auditing, Assurance and Professional Ethics · MTP · November 2024
Mr. Rajan, the CEO of a mid-sized company, has received an email requesting him to urgently update his account details due to a supposed security breach. The said email, appears to be received from the Company's bank accounts, looks official due to use of bank's logo and branding. Such email also includes a link to a website that resembles the bank's login page. Concerned about the security of the company's finances, Mr. Rajan clicks on the link and enters his login credentials. Later, the company's IT department detects unauthorized access to the company's financial accounts and identifies that the CEO's credentials were compromised. Identify the type of cyberattack that Mr. Rajan fell victim to:
(A) (A) Smishing
(B) (B) Whaling
(C) (C) Spear Phishing
(D) (D) Vishing

Suggested Answer and Working Notes:

Correct Answer: Option (C)

(C) Spear Phishing

Topics: Special Features of Audit of Banks & Non-Banking Financial Companies

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