The fake president fraud appeared in 2005 and started being a scourge as of 2010.
Even though its creator is now in prison for 7 years and despite several famous cases, many companies are still victims of such frauds.
Banks themselves put in place wire securized procedures and face those kind of frauds very often are still trapped by the crooks.
Sharp published a pratical guide dedicated to the fake president fraud to the attention of small and medium size companies and big groups.
some common sense rules inside the company and in the bank relation may limit the foil the fraud.
if not, some remedies and actions are available under French Law.