PYMNTS

MARCH 27, 2017

45 percent | Increase of business email compromise attacks in Q4 2016. billion | Total amount stolen via BEC attacks since 2013. Here are the numbers: $100 million | Amount of money stolen from hacker. businesses hacked in this case.

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Email Compromise Business Email Compromise Compromise Scams 40

PYMNTS

MAY 2, 2017

Department of Justice (DoJ) announced plans to charge a man allegedly responsible for a $100 million business email compromise scam. The DoJ alleges that the man, Evaldas Rimašauskas, used a business email compromise (BEC) scam to trick Facebook and Google into paying fake invoices, impersonating manufacturer Quanta Computer.

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MAY 12, 2017

From October 2013 through December 2016, a new report from the FBI suggests cybercriminals used business email compromise (BEC) scams to try and steal some $5.3 FBI Sees Wire Fraud Via Email Grow In 2016. billion across organizations. A significant number of these attempts came in the last seven months of 2016.

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Business Email Compromise ATM Phishing FBI 51

PYMNTS

APRIL 14, 2017

Last year the AFP marked an unexpected reversal in the decline of the use of checks in B2B transactions, inching up 1 percent to 51 percent last year compared to 2013 levels (that survey is conducted every three years). But there are other ways the AFP found businesses are exposed to payments fraud, most notably through the BEC scam.

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OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3 counterparts are not available.

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SEPTEMBER 9, 2016

When it comes to cyberattacks, there is one kind that Rojas believes cybercriminals will use to perpetuate fraud, regardless of speed of transaction, the payments system or type of technology: the Business Email Compromise (BEC) — popularly known as CEO fraud. A total of 17,642 reports of BEC were reported to authorities between Oct.

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PYMNTS

AUGUST 12, 2019

Business email compromise has come to high school sports. more than a half-million dollars of taxpayer money in Virginia’s Spotsylvania County has been taken in tandem with a BEC scam — and the money was supposed to be used to build a football field for a local high school. As reported this past week by Fox 5 in Washington, D.C.,

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Business Email Compromise Scams Fincen Compromise 59

PYMNTS

DECEMBER 7, 2018

The scope of the scam comes courtesy of cyber threat detection firm Agari, which has said the group, London Blue, seeks to ply its trade through the business email compromise (BEC) effort. The emails try to get the victims to send money to accounts – and the money, of course, is likely to disappear forever. “It

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Scams Credit Cards Email Compromise Business Email Compromise 68