PYMNTS

MAY 12, 2017

. …………… Here are other top cybersecurity stories that made headlines this past week: One Million Gmail Users Affected By Google Docs Phishing Scam. percent of total users) were affected by an email phishing scam. Late last week, approximately one million Gmail users (or about 0.1 billion across organizations.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

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.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

MARCH 27, 2017

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. 45 percent | Increase of business email compromise attacks in Q4 2016. 45,000 | Number of email attacks examined by just Proofpoint between July and December 2016.

Email Compromise 40

Email Compromise Business Email Compromise Compromise Scams 40

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.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

DECEMBER 20, 2019

A Lithuanian man who scammed Facebook and Google into sending him hundreds of millions of dollars has been sentenced to five years in prison, according to published reports Thursday (Dec. According to people familiar with the case, the scheme managed to nab roughly $23 million from Google in 2013 and around $98 million from Facebook in 2015.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

OCTOBER 10, 2018

billion via business wire fraud between October 2013 and December 2016, the FBI calculated. Earlier this year, the FBI said the value of successful BEC scams has now surpassed $12 billion. Thieves attempted to steal $5.3

Wire Transfer 46

Wire Transfer Wire Wires Cross-Border 46

PYMNTS

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.

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40

PYMNTS

AUGUST 12, 2019

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. The agency has found more than 32,000 documented cases of BEC attempts during that timeframe.

Business Email Compromise 59

Business Email Compromise Scams Fincen Compromise 59

PYMNTS

DECEMBER 7, 2018

The BBC reports that beloved JK Rowling – she of “Harry Potter” fame and fortune – has been at the center of a credit card scam. 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.

Scams 68

Scams Credit Cards Email Compromise Business Email Compromise 68