PYMNTS

APRIL 30, 2018

Jeffery said he is “pretty happy” with the finding that treasurers are investing in security, and that many will continue to do so in the coming two to three years, particularly as they implement new systems and tools, like faster payments , that demand a more sophisticated approach to security.

Email Compromise 59

Email Compromise Treasury Ransomware Wires 59

PYMNTS

FEBRUARY 24, 2020

The share of companies reporting fraud experiences jumped to 60 percent this year, according to a survey by Bottomline Technologies and Strategic Treasurer of more than 350 global corporate practitioners and bankers, up from 40 percent in 2017.

Automation 89

Automation Email Compromise On-Demand Process 89

PYMNTS

APRIL 29, 2019

It succeeds the Advisory Committee on Small and Emerging Companies, which ceded operation in 2017. The SEC has also targeted the growing threat of cyberattacks against small businesses, with the Business Email Compromise a particular focus for the government agency.

Small Business 43

Small Business Email Compromise Laws Scams 43

PYMNTS

OCTOBER 15, 2018

Frosh issued a warning to the state’s small business (SMB) owners last week, he shed light on the fact that, despite business owners’ rising focus on cyberattacks, some scammers continue to use legacy tactics to target their victims. AG Frosh’s warning pertained to a specific small-business cybersecurity threat.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

SEPTEMBER 13, 2018

Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force. For those that refused to pay, the vast majority were also able to recover their files thanks to regularly backing up their systems.

Ransomware 58

Ransomware MSPS Disaster Recovery Cybersecurity 58

PYMNTS

MAY 3, 2019

The waves of business email compromise (BEC) scams continue, with certain verticals seemingly marked by fraudsters. Proofpoint examined attacks on companies in this vertical, across 100 firms, between 2017 and 2018. As a result, earnings were inflated as well.

Business Email Compromise 43

Business Email Compromise Scams Email Compromise Disputes 43

PYMNTS

APRIL 26, 2019

Business email compromise (BEC) scams are gaining traction, and bilking unwitting individuals and companies out of an increasing amount of money. As reported in Threatpost , losses from such schemes nearly doubled from $675 million in 2017 to as much as $1.2 billion in 2018.

Business Email Compromise 57

Business Email Compromise FBI Scams Wires 57

PYMNTS

JANUARY 26, 2017

The firm released its 2017 Payments Outlook report last week and made some conclusions that B2B FinTech players may find disappointing. But while B2B payments continues to lag behind the B2C market in terms of innovation, analysts note that all sides will be facing challenges from regulation this year. B2B Payments Outlook.

B2B 54

B2B Innovation B2C Faster Payments 54

PYMNTS

JULY 26, 2017

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. But the Spring 2017 report reveals news of threats that are just beginning to flare up. Amid these fluctuations, the U.S.

OCC 46

OCC Office of the Comptroller of the Currency Money Laundering Non-Bank 46

PYMNTS

APRIL 14, 2017

In its 2017 AFP Payments Fraud Survey , researchers noted a “dramatic” increase in corporate payments fraud compared to levels seen in 2015. The huge increase last year was so big that I didn’t think it would continue this way. Where we stand right now, we’re at the peak level of payment fraud.”. Only about 10 hands came up.”. “I

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

MAY 2, 2019

million business email compromise scam. Yet according to the report, half of the companies surveyed continued to work with that third party following a cyber incident , and 69 percent did not change their risk policies as a result of a data breach.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

JUNE 14, 2018

As for other avenues, business email compromise showed up mightily, experienced by 77 percent of organizations in 2017. The scheme began in 2015 and continued into last year, and in June of last year she retired. The next most prevalent activity was wire fraud, at 48 percent, followed by corporate fraud at 30 percent.

AFP 41

AFP Accounts Wires Wire 41

PYMNTS

FEBRUARY 6, 2019

In one of the tightest labor markets that corporate America has seen in years, demand for financial experts remains resilient even as automation continues to rise. But what organizations are looking for in those professionals doesn’t look like it did a decade or so ago. “That’s long gone.”

Accounts 74

Accounts Finance On-Demand Automation 74

PYMNTS

APRIL 9, 2018

While details of the most recent incidents continue to surface, analysts are still looking at the Saks breach, initiated when the retailer’s owner, Hudson’s Bay Company, was targeted. Despite the billions of dollars that businesses spend to safeguard their systems, data breaches continue to occur. Estimates from Gartner, Inc.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 million, in 2016 alone. with more than 16,800 victims recorded in 2016.

Identity Theft 43

Identity Theft Wire Transfer Crime Email Compromise 43

PYMNTS

MAY 12, 2017

Users received an email in which it appeared a contact had shared a document with them via Google Docs. If they opened the document, users were brought to a real Google page that required a login and permissions to access email account data. FBI Sees Wire Fraud Via Email Grow In 2016. billion across organizations.

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

PYMNTS

NOVEMBER 9, 2017

Separate research released in April by the Association for Financial Professionals in its 2017 AFP Payments Fraud Survey found that corporate payments fraud is now higher than ever, with analysts citing a “dramatic” increase in fraud compared to levels seen in 2015. The Data Connection.

Risk Management 43

Risk Management Risk Treasury Email Compromise 43

PYMNTS

MAY 5, 2017

As of now, there is reportedly no evidence of continued unauthorized activity. Radial found that overall fraud in the eCommerce space showed grew 30 percent year over year in Q1 of 2017. SWIFT continues to increase its demands from banks to prevent more cyberattacks, but some still say it isn’t enough.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

CB Insights

JULY 23, 2020

And as we continue to learn more about the virus, no one solution has emerged as a standalone prevention method. But as consumer product makers (such as Apple) continue to use biometric technology, this resistance and skepticism may soften. Source: Openpath. Source: Robin.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101