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I wonder if the problem is with impersonating C-level executives or if the problem is that they have power to just send money.. In recent John Oliver episode th

I wonder if the problem is with impersonating C-level executives or if the problem is that they have power to just send money.. In recent John Oliver episode there was banker who simply bankrupted his bank by sending money to the scammer. Or this guy https://www.npr.org/2019/03/25/706715377/man-pleads-guilty-to-phishing-scheme-that-fleeced-facebook-google-of-100-million https://www.npr.org/2019/03/25/706715377/man-pleads-guilty-t.... Do these companies not have proper process for sending so much money with multiple levels of people involved?

Turing_Machine 3y ago
> I wonder if the problem is with impersonating C-level executives or if the problem is that they have power to just send money. Yeah, I guess I'm surprised that executives are allowed to do this without a "second opinion", so to speak. In my (thankfully) long-ago days as a manager, I had a petty cash fund (used for stuff like office supplies and coffee filters and such). I'd spend that as I saw fit, and just send in my receipts once in a while (usually only when the petty cash box got low). No one got too worried about that. Above that, I could make medium-sized purchases without approval, but I had to send in the paperwork immediately, along with a justification of why I'd spent the money. Anything above that required approval at a higher level. At the very least, it seems like both the CEO and the CFO should have to sign off on any money transfers of a potentially company-bankrupting size. Maybe even add the CTO (or some other executive), just to have a third watchdog on the case.