PYMNTS

MAY 12, 2017

in 2016, losing a combined $16 billion — just over $1,400 per victim, on average. Analysts say these strategies comprised some 63 percent of the cybersecurity threats that hit SMEs in 2016. FBI Sees Wire Fraud Via Email Grow In 2016. A significant number of these attempts came in the last seven months of 2016.

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Business Email Compromise Phishing ATM FBI 51

PYMNTS

JANUARY 16, 2020

The business email compromise (BEC) scam is a cybersecurity threat to businesses of all sizes, and the financial and security implications of a successful attack aren’t isolated to its target. According to the FBI, more than $26 billion in losses linked to BEC were reported between July 2016 and September 2019.

Business Email Compromise 44

Business Email Compromise Security Scams Email Compromise 44

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. “Organizations are now using measures, such as positive pay, to a much larger extent than before, after its use declined in 2016,” the AFP noted.

Scams 55

Scams AFP Business Email Compromise Wire Transfer 55

PYMNTS

NOVEMBER 13, 2020

billion to business email compromise (BEC) scams last year, for example, and global businesses losing approximately $26 billion between June 2016 and July 2019. Fraudsters perpetrating these schemes send emails that convince firms to wire money into fraudulent accounts. companies losing roughly $1.77

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Cross-Border Wire Transfer B2B Cross-Border Payments 64

PYMNTS

JANUARY 9, 2019

Among the most prevalent is the Business Email Compromise (BEC), a type of social engineering attack that received significant attention last year. The tactic is relatively simple.

Faster Payments 56

Faster Payments Business Email Compromise Treasury Real Time Payments 56

PYMNTS

JUNE 26, 2018

Take, for instance, the Business Email Compromise, a scam that is attributed to an estimated $5.3 billion in stolen corporate funds in 2016, according to the Federal Bureau of Investigation (FBI). The tactic relies on employee ignorance, not on system weaknesses, to find success.

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

PYMNTS

SEPTEMBER 9, 2016

When it comes to cyberattacks, there is one kind that Rojas believes cybercriminals will use to perpetuate fraud, regardless of speed of transaction, the payments system or type of technology: the Business Email Compromise (BEC) — popularly known as CEO fraud. 2016, according to the FBI. billion, the FBI reported.

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Same Day ACH ACH ODFI Faster Payments 40

PYMNTS

NOVEMBER 6, 2017

In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions. percent from Q2 2016 to Q2 2017. Nelson said the organization was alerted by the FBI in 2009 regarding a rise in corporate account takeovers.

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FS-ISAC Cybersecurity Account Takeovers NACHA 47