PYMNTS

JUNE 25, 2020

Long pled guilty in November of 2019 to a scheme where he committed wire fraud and aggravated identity theft. 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.

Identity Theft 66

Identity Theft Checks Payee Phishing 66

PYMNTS

DECEMBER 20, 2019

A Lithuanian man who scammed Facebook and Google into sending him hundreds of millions of dollars has been sentenced to five years in prison, according to published reports Thursday (Dec. According to people familiar with the case, the scheme managed to nab roughly $23 million from Google in 2013 and around $98 million from Facebook in 2015.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

FEBRUARY 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The scheme was a multilevel marketing (MLM) operation that went on for two years, and managed to scam 70,000 victims for a total of $147 million.

Bitcoin 52

Bitcoin Law Enforcement Crime Cryptocurrency 52

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. FBI Sees Wire Fraud Via Email Grow In 2016. billion across organizations.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Most businesses and accountants still rely on antiquated, paper-based methods to manage some stages of their process,” he said in an emailed interview with PYMNTS, pointing to the continuing popularity of checks and wire.

Accounts 44

Accounts Wire Transfer Wires Wire 44

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. With harvested data, perpetrators conducted unauthorized transactions, including wire transfers and credit card purchases, exploiting compromised accounts for financial gain.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

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

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

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 Compromise 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. Examine the latest research to grasp just how cumbersome modern cash management can be. $3

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. That’s agnostic to whether it gets realized as a wire or ACH transaction,” Rojas said. A total of 17,642 reports of BEC were reported to authorities between Oct. 2016, according to the FBI. The cost of such attacks?

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40

PYMNTS

OCTOBER 1, 2018

FIRREA authorizes the federal government to seek civil penalties against companies and individuals that commit various criminal offenses affecting federally insured financial institutions, including bank fraud, wire fraud and false statements to financial institutions. said U.S.

P2P 54

P2P Origination Underwriting Returns 54

CB Insights

MAY 23, 2019

After a comprehensive investigation by the Securities and Exchange Commission, Holmes was banned from the laboratory testing industry for two years and was ultimately charged with wire fraud by the Department of Justice in summer 2018. In most scams, this would be the end of the story. The Outcome. The Outcome.

Online and Mobile Banking 78

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