Cyberfraud

Social engineering, business email compromise, deepfakes, malware and the measures that prevent and detect cyberfraud.

5 minutes 5 Questions

Cyberfraud, in the context of the Certified Fraud Examiner (CFE) body of knowledge, refers to any fraudulent scheme that uses computers, networks, or the internet as the primary means to deceive victims and obtain money, data, or other assets illegally. The ACFE treats cyberfraud as a growing categ…

Concepts covered
Malware Types and VehiclesSocial Engineering and Business Email CompromisePreventing CyberfraudDetecting Cyberfraud
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CFE - Cyberfraud Example Questions

Test your knowledge of Cyberfraud

Question 1

A fraud examiner reviews the source code of a vendor payment module written in-house by a former developer. Inside the code is a hard-coded credential that grants administrator rights and skips the normal sign-on and activity logging routines. Payments approved after the developer left were entered through this route. Which type of malicious code BEST describes the finding?

Correct Answer: A trapdoor embedded in the module's code

A trapdoor (back door) is undocumented code that lets someone bypass normal security, sign-on and logging controls. A hard-coded administrator credential that skips authentication and activity logs is exactly that, and the departed developer could still use it to enter payments.
A rootkit is software installed to hide an intruder's presence and keep privileged access to an operating system, not a bypass written into an application's source code. A Trojan is a program that appears useful but secretly carries out harmful functions. A virus is self-replicating code that attaches to other programs and spreads, and nothing here replicates.
Key concept: trapdoors (back doors) as programmed bypasses of access controls.

Question 2

In social engineering schemes, what does the term deepfake refer to?

Correct Answer: AI-generated audio or video that mimics a real person's face or voice

A deepfake is synthetic audio or video created with artificial intelligence that convincingly imitates a real person's face or voice. Fraudsters use it to impersonate executives or trusted contacts, for example on a fake video call or voice message, to trick victims into transferring funds or revealing information.
A forged email header is email spoofing, not a deepfake. A cloned login page is a phishing or pharming technique. Malware that records keystrokes is a keylogger, a technical attack rather than AI-generated impersonation.
Key concept: deepfakes as an emerging AI-driven impersonation tool in social engineering fraud.

Question 3

In discussions of malware vehicles, which of the following BEST describes malvertising?

Correct Answer: Malicious code hidden in online ads placed through legitimate ad networks

Malvertising is the practice of embedding malicious code in online advertisements, which are often distributed through legitimate ad networks onto reputable websites. Users can become infected simply by viewing or clicking the ad.
Spoofed websites that harvest login details describe pharming, where traffic is redirected to fraudulent sites. Fake security alerts that pressure users into buying useless software describe scareware. Infected code planted on a site a target group is known to visit describes a watering hole attack, which targets a specific group rather than spreading through ad networks.
Key concept: distinguishing malware delivery vehicles, specifically malvertising versus pharming, scareware, and watering hole attacks.

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