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Snapchat Scammed Out Of Employee Data In A Phishing Expedition

PYMNTS

Phishing has become an endemic problem in enterprise data security, as hacking people is often easier than hacking sophisticated tech. In 2013, the up-and-coming firm saw hackers get into the names and phone numbers of millions of the service’s users. Snapchat has confirmed it will push further employee training.

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Anatomy Of A Bank Heist, SWIFT-ly Done By Phishers

PYMNTS

Writ large, the attack and entré into the Bangladesh Bank two years ago took place by sending phishing emails to employees of the bank and — upon snaring some unwitting victims — gaining access to SWIFT. Chosun also plied its trade from locations in China (where Park was based from 2011 to 2013), according to the complaint.

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Facebook, Alphabet Scammer To Serve Five Years In Prison

PYMNTS

They engaged in a phishing scheme, sending emails to employees and agents of the companies, seeking outstanding bills and asking the companies to send money to accounts in Latvia and Cyprus that Rimasauskas operated, according to U.S. federal prosecutors. Both companies identified themselves as victims in the scam.

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Some of the Top Fraud Events and Scandals in Payments

Clearly Payments

Target Data Breach (2013) In the saga of payment processing fraud, few chapters loom as large as the Target data breach of 2013. Operation Phish Phry (2009) Operation Phish Phry stands as a testament to the cunning and audacity of cyber criminals orchestrating large-scale payment processing fraud.

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Scammers Prove Corporate Payments Fraud Comes In All Shapes And Sizes

PYMNTS

According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions. Analysis of 295 cases of accounting fraud between 1996 and 2013 was compared to property crime rates in the areas where corporate fraud occurred.

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Payments Company Owner Gets Jail Time For Debit Fraud

PYMNTS

The charges dated back to 2013, when Long created and deposited checks from the checking accounts of over 375,000 victims, saying that the victims’ banks had authorized the fund transfers. Long pled guilty in November of 2019 to a scheme where he committed wire fraud and aggravated identity theft.

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Rise in E-Payments Fraud Demands New Analytics

FICO

For instance, data released by Financial Fraud Action UK , shows that UK online banking fraud losses increased by 38% in 2014 from 2013, and by 64% in 2015 from 2014. The rapid growth of fraud losses calls for an effective e-payments fraud prevention solution and one that can adapt to varying fraud patterns.

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