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. Elevated awareness of phishing scams and cybersecurity threats. Its demise in 2013 laid bare the extent of its fraudulent operations, sending shockwaves through the global financial community.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

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

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. 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

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

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

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.

ATM 40

ATM Wire Transfer Scams CFPB 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 2013, resulting in $3.1

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 40

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

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

PYMNTS

SEPTEMBER 9, 2016

Just in the first four months of 2016, incidents of such scams increased by 270 percent. 2013 and Feb. 2016, according to the FBI. billion, the FBI reported. 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

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. In most scams, this would be the end of the story.

Online and Mobile Banking 78

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