PYMNTS

NOVEMBER 30, 2020

billion is estimated to be the total cost of BEC damages worldwide , according to data from the FBI cited in a new report from Netpoleon Solutions. Titled "Business Email Compromise (BEC): How does it attack your business and how can you prevent it?"

Business Email Compromise 70

Business Email Compromise Scams Email Compromise FBI 70

PYMNTS

MARCH 23, 2016

Now, Agha and Dardar have been added to the FBI’s Cyber Most Wanted list, and there is a $100,000 reward that is tied to information that leads to their arrest (and they are both believed to be living in Syria). by gaining access to computers and then effectively holding users hostage until money changed hands.

Money Laundering 40

Money Laundering FBI Phishing Governance 40

PYMNTS

MARCH 9, 2017

FBI Director James Comey discussed cybersecurity issues at a Boston College cybersecurity conference this week, highlighting that Americans should let go of their expectations of “absolute privacy.”. spy practices back in 2013, CNN reported. “If

FBI 44

FBI Encryption Cybersecurity Privacy 44

PYMNTS

FEBRUARY 9, 2020

Steiner said he helped the 49-year-old Mann allegedly defraud two finance companies out of nearly $13 million between 2013 and 2019. Mann reportedly told the FBI that he owned several firms that he started for fraudulent purposes only. . Luke Steiner, 31, of Minnesota pleaded guilty on Wednesday (Feb.5) payroll company. “The

Payroll 61

Payroll FBI Wire Wires 61

FICO

MAY 17, 2019

Many of us remember 2013 when the FBI announced that they had dismantled a major criminal ring committing credit card fraud. And don’t forget the lesson learned from the FBI: If 18 people can fabricate 7,000 identities, there are some Night Kings among us. What do these two statements have to do with each other?

FBI 75

FBI Credit Risk Identity Theft Law Enforcement 75

PYMNTS

JANUARY 4, 2017

government and has been looked into since 2013. The paper noted that, since 2013, Americans — many of which are recent immigrants — have been scammed out of $100 million as a result. NYT noted this scam is being tracked by the U.S. In the past, India wasn’t known for large-scale fraud, but that is changing.

Scams 49

Scams Federal Trade Commission FBI Legal 49

PYMNTS

DECEMBER 21, 2018

The findings came from a survey of 2,000 individuals between 2013 to 2018. The FBI noted that as much as $12.5 billion has been stolen via BEC from October 2013 to May 2018. In one case, a company gave the thumbs up to an $8,000 designer watch, chalked up to “customer appreciation.”

Business Email Compromise 60

Business Email Compromise Email Compromise Advisors IRS 60

PYMNTS

JANUARY 18, 2019

In the meantime, as has been previously reported, the FBI estimated that the global loss from BEC — spanning October 2013 to May 2018 — has hit 150 countries and caused firms to lose as much as $12 billion.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

MAY 12, 2017

FBI Sees Wire Fraud Via Email Grow In 2016. 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 told Reuters that the FBI report covered just 20 percent of the total and that the losses could be double.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

PYMNTS

JUNE 18, 2018

In October 2013, the marketplace was shut down by the FBI, and Ulbricht was apprehended, arrested and given a sentence of life in prison without parole. Silk Road was dubbed the “Amazon of illegal narcotics,” and Ulbricht built a $1.2 billion empire selling heroin, cocaine and crystal meth online. Last week, the U.S.

Money Laundering 46

Money Laundering Law Enforcement FBI Crime 46

PYMNTS

MARCH 25, 2016

In a press release posted on Thursday (March 24), the DOJ confirmed that the individuals were charged by a grand jury in the Southern District of New York and are accused with launching an extensive campaign of DDoS attacks against 46 victims between late 2011 and mid-2013. Through the work of our National Security Division, the FBI, and U.S.

FBI 40

FBI Mitigation Security Laws 40

PYMNTS

OCTOBER 14, 2016

These additional tools bear the hallmarks of a sophisticated attacker, which has plagued the financial industry since at least 2013 — Carbanak. 15 by the FBI that a “potential data security issue” was discovered in its retail network, spokeswoman Julia Bentley told Reuters. Hackers Get Fashionable.

SWIFT 75

SWIFT Compromise Cybersecurity Data Breach 75

Clearly Payments

MARCH 4, 2024

Target Data Breach (2013) In the saga of payment processing fraud, few chapters loom as large as the Target data breach of 2013. Liberty Reserve (2013) Liberty Reserve, once touted as a digital currency haven, plunged into infamy as a hub for money laundering and illicit financial activities.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

SEPTEMBER 17, 2018

Per Nathan Shields, special agent with the FBI , the details of the conspiracy and the hack(s) come from multiple sources, spanning activities such as analyzing compromised victim systems and executing approximately 100 search warrants across 1,000 email and social media accounts.

SWIFT 75

SWIFT Phishing Ransomware Central Bank 75

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

Wire Transfer 46

Wire Transfer Wire Wires Cross-Border 46

PYMNTS

APRIL 11, 2016

billion : The number of dollars the FBI estimates fraudsters have stolen since 2013 with email scams. The PYMNTS 5-In-1: April 11, 2016. billion : The dollar value of securitizations backed by online marketplace loans in Q1 2016. That’s down 21 percent in 3 months. .

FBI 40

FBI Scams Volume Checks 40

PYMNTS

AUGUST 8, 2018

As previously highlighted by the FBI , Business Email Compromise scams are on the rise, and businesses saw a 26 percent increase in fraudulent emails during Q2 compared to Q1 — and that’s a whopping 87 percent increase compared to Q2 2017. “The Bank Trojans with mining capabilities were first noticed in 2013.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

MAY 13, 2019

Since 2013, 170 local government systems — at least — have been attacked by cybercriminals , new data from Recorded Future revealed. The data represents one of the first efforts by the cybersecurity industry to analyze such attacks, as the FBI and federal government authorities do not track local-level government incidents.

Cross-Border 51

Cross-Border Data Breach Ransomware Breach 51

PYMNTS

APRIL 11, 2016

Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 billion since 2013. BlueSnap CEO Ralph Dangelmaier tells Karen Webster about how their work with AutoDesk has given rise to a whole new SaaS business model to explore – and monetize.

ATM 40

ATM Wire Transfer Scams CFPB 40

PYMNTS

AUGUST 12, 2016

2013, the illegal online marketplace for drugs was shut down by the FBI, but since then, the illicit drug trade has found an alternative route and has tripled in capacity. Silk Road may have paved the way for a darker web and a thriving online drug trade. Back in Oct.

Bitcoin 40

Bitcoin FBI Push-to-Card Debit Card 40

PYMNTS

JUNE 23, 2016

” He took the 2013 Target data breach as an example. 2013, resulting in $3.1 Supplier email scams , the FBI said, are rising at massive rates. . “The risk of experiencing a data breach, either yourself or in your supply chain, is relatively high,” Clare said. “We hear about these things all the time.

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 40

PYMNTS

JUNE 20, 2016

and elsewhere, the FBI found, leading to requests for $3.1 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. billion from cyberattackers since Oct.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

PYMNTS

SEPTEMBER 9, 2016

2013 and Feb. 2016, according to the FBI. billion, the FBI reported. Just in the first four months of 2016, incidents of such scams increased by 270 percent. A total of 17,642 reports of BEC were reported to authorities between Oct. The cost of such attacks? A whopping $2.3

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40

PYMNTS

JUNE 23, 2016

SM: From this attack in 2013 they apparently don’t fare better. And then get the FBI to contact the ISPs connected to those remote connections to figure out where the attack might have originated. PYMNTS: Generally speaking, how much more/less prepared do you think U.S. ” .

Cybersecurity 42

Cybersecurity Risk Fed Federal Reserve 42

PYMNTS

MAY 15, 2017

That happens via an exchange — a now massive part of the bitcoin ecosystem that began to take root in 2011 and really flourished in about 2013. But since 2013, the growth of ransomware initiatives began to increase in the kind of ransomware activity that’s more devastating than those leveled in the past.

Bitcoin 62

Bitcoin Ransomware Multi-Currency Regulations 62

PYMNTS

JANUARY 29, 2019

Meng “personally made a presentation in August 2013 to an executive of one of Huawei’s major banking partners in which she repeatedly lied about the relationship,” prosecutors said in a statement. prosecutors have accused Huawei of hiding its relationship with Skycom Tech Co., a Hong Kong-registered company with operations in Iran.

Request for Comment 52

Request for Comment Wire Wires Governance 52

CB Insights

MAY 23, 2019

The Macro was allegedly used from Zenefits’ inception in 2013 until the summer of 2015, when Zenefits’ board was first alerted to its use. Following the publication of Kim’s post, investors began investigating Choi and his company — and soon the FBI joined them. The Outcome. The Outcome.

Online and Mobile Banking 78

Online and Mobile Banking Wire Wires Push-to-Card 78

CB Insights

NOVEMBER 9, 2017

They were arrested by the FBI earlier this week for inflating their revenues and then lying to their board about it. Just because you run a private company that does not have to file quarterly financial statements with the SEC does not make it okay to cook your books. The company appears to be toast. via TechCrunch. Company: Agillion.

Online and Mobile Banking 78

Online and Mobile Banking On-Demand Shutdown Push-to-Card 78

PYMNTS

FEBRUARY 15, 2018

According to a report in CNN , officials from the CIA, NSA, FBI and Defense Intelligence Agency testified before the Senate Intelligence Committee this week that smartphones made by these Chinese companies are a security threat to consumers in the U.S. Huawei and ZTE , two Chinese technology companies, have been dealt a blow Wednesday (Feb.

FBI 43

FBI Governance Government Security 43

PYMNTS

JANUARY 28, 2017

The last big pickup was in 2013 when the Snowden leaks came to light. According to FBI figures for the week of Nov. That lasted for two years between 2008 and 2010, with a brief pause before starting up again between 2012 and 2013. However, it is also worth noting what bumped 1984 : Hillbilly Elegy by J.D.

Posting 41

Posting FBI On-Demand NOV 41