Why Executives Are the New Prime Targets for Cyberattacks—and How to Fight Back

Why Executives Are Cybercriminals’ Top Targets

Cyberattacks are no longer just targeting IT systems—they are targeting C-suite executives directly. 72% of U.S. senior executives have been attacked in the past 18 months, and 27% of these attacks involved AI-generated deepfakes.

Hackers understand that executives have direct access to company finances, sensitive business data, and decision-making power—making them high-value targets for cyberattacks like phishing, impersonation scams, and social engineering.

In this blog, we’ll explore real-world cyberattacks on executives, why leaders are at risk, and the best cybersecurity practices to protect your organization’s top decision-makers.

Cyberattacks on Senior Executives

🎯 1. Ubiquiti Networks – $46.7 Million Lost

A cybercriminal impersonated a C-suite executive via email, instructing employees to transfer nearly $47 million to an offshore account. The fraud was detected too late—only a small portion of the funds were recovered.

🎯 2. Mattel – CEO Fraud Attempt

Hackers posed as Mattel’s CEO, requesting a $3 million wire transfer from the finance department. The funds were sent but, luckily, intercepted in time by law enforcement.

🎯 3. Snap Inc. – Payroll Data Breach

Cybercriminals spoofed the CEO’s email and tricked HR into sending a file containing sensitive employee payroll information. The breach resulted in major reputational and financial consequences.

🎯 4. The Scoular Company – $17 Million Gone

A CFO was misled into believing he was helping with a confidential business acquisition. Following a series of fake emails and social engineering tactics, he transferred $17 million to fraudulent accounts.

Why Are Executives Prime Targets for Hackers?

📌 Executives have direct access to sensitive data and finances.

📌 They frequently use personal devices and unsecured home networks.

📌 They are more likely to approve financial transactions without verification.

📌 Employees hesitate to question executives, making impersonation attacks effective.

📌 AI-driven deepfake technology makes scams even harder to detect.

Cybercriminals exploit social engineering, phishing, and AI-based deception to bypass security controls. A recent study found that executives are four times more likely to fall for phishing scams than employees.

The Financial & Reputational Damage of Executive Cyberattacks

🚨 Business Email Compromise (BEC) caused $2.9 billion in losses in 2023.

🚨 42% of executive cyberattacks targeted personal devices or home networks.

🚨 Nearly half of executives who were attacked fell victim to the scam.

When cybercriminals breach an executive’s account, they can steal money, manipulate stock prices, leak sensitive corporate data, or damage brand reputation. The financial and reputational fallout can be catastrophic.

How to Protect Executives from Cyber Threats

🔐 For Companies:

✅ Provide executive-specific cybersecurity training – phishing simulations, deepfake awareness, and social engineering drills.

✅ Enforce strict email and transaction verification policies – require multi-step authentication for financial approvals.

✅ Deploy AI-powered threat detection – monitor executive emails and accounts for unusual activity.

✅ Secure executives’ home networks and personal devices – ensure company security policies extend beyond the office.

✅ Use physical security keys for logins instead of passwords alone.

🔐 For Executives:

✅ Verify before approving transactions, no matter how urgent.

✅ Secure all personal and business accounts with unique passwords and multi-factor authentication.

✅ Limit online information sharing – hackers use social media to craft convincing phishing attacks.

✅ Never use personal email accounts for business communications.

✅ Lead by example – following cybersecurity protocols encourages company-wide compliance.

Cybersecurity Is a Leadership Responsibility

Executives are the biggest security risk in many organizations, but also their best line of defense.

By investing in executive cybersecurity awareness, strict security policies, and AI-driven threat detection, businesses can prevent devastating cyberattacks. Protecting top leadership isn’t just an IT issue—it’s a business survival strategy.

🔎 Is your company doing enough to secure its executives?