PYMNTS

SEPTEMBER 14, 2017

Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. Here’s the problem: The professional who falls victim to eInvoice scams like the business email compromise is, more often than not, a C-Suite executive. billion in total losses since 2013.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

SEPTEMBER 10, 2019

A subsidiary of automaker Toyota has lost millions of dollars thanks to a vendor payment scam, according to SC Media UK reports. billion has been lost to the Business Email Compromise scam between 2013 and 2018. The publication said Monday (Sept. Cybersecurity company Agari recently released data that estimates $13.5

Email Compromise 46

Email Compromise Compromise Cybersecurity Scams 46

PYMNTS

JUNE 15, 2016

The scam is also known as the Business Email Compromise and typically only goes after businesses, rather than consumers. Billion | The amount hackers have attempted to steal from businesses using wire fraud between October 2013-May 2016. and foreign victims between October 2013-May 2016.

FBI 40

FBI Wire Wires Wire Transfer 40

PYMNTS

DECEMBER 21, 2018

The findings came from a survey of 2,000 individuals between 2013 to 2018. In examples of the ill-famed business email compromise ( BEC ) scams that seem to make frequent headlines, $1 million was transferred from the Save the Children Foundation. billion has been stolen via BEC from October 2013 to May 2018.

Business Email Compromise 60

Business Email Compromise Email Compromise Advisors IRS 60

Clearly Payments

MARCH 4, 2024

From the Target data breach that compromised millions of customer accounts to the collapse of Wirecard AG following revelations of accounting fraud, these fraud events serve as stark reminders of the vulnerabilities within payment systems. Over 40 million credit and debit card accounts compromised.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

SEPTEMBER 9, 2019

billion has been lost to the Business Email Compromise scam between 2013 and 2018 , data analyzed by cybersecurity firm Agari, in conjunction with the Federal Bureau of Investigation’s Internet Complaint Center, revealed.

Cybersecurity 72

Cybersecurity Email Compromise Deepfake Crime 72

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

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. 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

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.

Wire Transfer 46

Wire Transfer Wire Wires Cross-Border 46

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. Bank Trojans with mining capabilities were first noticed in 2013. Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

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

MAY 30, 2018

Bloomberg , citing court proceedings, reported that Baratov was charged with computer fraud and is one of four people slapped with charges last year for a hacker scam that was tied to Russia’s FSB security agency. In October Yahoo announced that it now believes a 2013 security breach exposed all 3 billion of its users at the time.

Identity Theft 44

Identity Theft Breach Phishing Scams 44

PYMNTS

APRIL 11, 2016

Fraudsters Bank Billions Via Corporate Email Scams. Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 billion since 2013. So what’s next ? ATM’s Massive Fraud Spike. Not exactly news you want to start your week out with.

ATM 40

ATM Wire Transfer Scams Compromise 40

PYMNTS

JUNE 23, 2016

For some, like small suppliers, a compromise of sensitive data and credentials can lead to a few hundred or thousand dollars fraudulently obtained from a business client, often via the Business Email Compromise scam. ” He took the 2013 Target data breach as an example. 2013, resulting in $3.1 ”

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 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.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

JUNE 20, 2016

Cybercrime involving email scams are on the rise, as businesses and their AP officials receive these fraudulent emails that seemingly request legitimate money transfers by posing as a corporate executive or a supplier requesting payment. The business email compromise has created more than 22,000 cases in the U.S. Like in the U.S.,

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

PYMNTS

DECEMBER 12, 2017

The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. About 44 percent of payments received are in the form of a paper check too, the report noted.

Accounts 44

Accounts Wire Transfer Wire Wires 44

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. 2013 and Feb. 2016, according to the FBI. The cost of such attacks?

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40

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