PYMNTS

JUNE 15, 2016

The FBI is warning about the increasing risk of wire transfer fraud. As part of its newly launched public awareness campaign on wire transfer fraud, the FBI provided tips to help companies detect and fight the threats. Billion | The amount hackers have attempted to steal from businesses using wire fraud between October 2013-May 2016.

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PYMNTS

MAY 8, 2017

In a warning to businesses covered by Reuters , the FBI said bad guys used email and pretended to be from real businesses to try and steal $5.3 billion from October of 2013 through December of 2016. The schemes are known as business email compromises. Based on the FBI report, Reuters said around one in four U.S.

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PYMNTS

NOVEMBER 30, 2020

While the business email compromise (BEC) scam is a global pain point for businesses, this week's B2B Data Digest looks at the latest figures in B2B payments fraud and finds BEC heating up in one particular region: Australia and New Zealand.

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PYMNTS

JULY 20, 2018

Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on the rise. The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018.

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PYMNTS

JANUARY 18, 2019

Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

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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. The FBI noted that as much as $12.5

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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.

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