Estonian companies lose 8 million euros to employee manipulation fraud

Fraudulent payment schemes in Estonia have seen a significant increase, with companies losing nearly 8 million euros in the first four months of the year. Experts note a shift in tactics: rather than hacking technical systems, criminals are increasingly using social engineering to manipulate employees.

Key roles, such as accountants and other staff with access to company funds and payments, are being targeted. Experts emphasize that general warnings are no longer sufficient; instead, employees require specific, concrete instructions on how to handle high-pressure situations. Cybersecurity professionals stress that regular training is essential to combat increasingly convincing fraudulent communications and that protecting company assets is a direct responsibility of the board of directors.