The Imposter CEO, And Other Insidious Phishing Scams

The protection of a trademark is not the only reason to go after domain-name squatters. McCarter & English attorneys Susan Okin Goldsmith and Scott M. Smedresman explain how an appropriated near-copy of a domain name can be a security risk. They recount some particularly insidious scams, including one that resulted in a company executive wiring more than $17 million to offshore accounts after being instructed to do so by an online CEO-impersonator who clearly understood the business and had a plausible rationale for the transfer. Vigilance and proactive measures are required, the authors write. One recommendation: Employ a domain name watch service, with an eye to security as well as protection of trademarks.