PYMNTS

JANUARY 18, 2019

Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

APRIL 4, 2019

The threat of cyberattacks continues to grow, and small businesses (SMBs) are caught in the crosshairs. Its most recent Beazley Breach Briefing , released last month, analyzed 3,300 data incidents in 2018, and found that small businesses face a higher risk of being targeted by a ransomware attack than larger enterprises.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

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. CyberEdge Group’s 2018 Cyberthreat Defense Report found that, while 55 percent of businesses were hit by a ransomware attack last year, only 19 percent paid the ransom.

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. million incurred between 2009 to 2018. As a result, earnings were inflated as well.

Business Email Compromise 43

Business Email Compromise Scams Email Compromise Disputes 43

PYMNTS

MARCH 21, 2019

The wiles and ways of scammers to part businesses from their money continue to proliferate, and continue to use technology as a springboard to trick executives. As researchers at Agari reported, business email compromise (BEC) attacks have been going mobile.

Business Email Compromise 45

Business Email Compromise Scams Email Compromise Cross-Border 45

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. The 2018 report, sponsored by JPMorgan , finds fraudsters are spinning their BEC webs even broader, targeting new channels of business transactions.

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

APRIL 10, 2019

The Association of Financial Professionals released new data this week that revealed the threat of payments fraud continues to climb, particularly for large enterprises, as scams like ACH fraud and the Business Email Compromise climb to record levels. But the latest analysis of U.S.

Risk 54

Risk Risk Mitigation Risk Management Data Breach 54

PYMNTS

MAY 2, 2019

Last year saw record levels of venture capital pumped into cybersecurity startups, and researchers at Gartner expect companies to increase cybersecurity spend by 9 percent between 2018 and 2019, reaching $124 billion. million business email compromise scam.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

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. It’s all in the name of siphoning company cash from accounts payable operations, and experts say the threat will continue to increase.

Business Email Compromise 44

Business Email Compromise Security Scams Email Compromise 44

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

In an illustration of just how widespread payments fraud can be, consider the 2018 AFP Payments Fraud Survey , underwritten by JPMorgan, which a few weeks ago found that such activity hit a new high last year. As for other avenues, business email compromise showed up mightily, experienced by 77 percent of organizations in 2017.

AFP 41

AFP Accounts Wire Wires 41

PYMNTS

JUNE 26, 2018

High-profile data breaches and attacks have catapulted cybersecurity to the top of executives’ priority lists, and investments in cybersecurity solutions are soaring: The 2018 Harvey Nash/KPMG CIO Survey found businesses surveyed spend a combined $46 billion on cybersecurity every year. Nearly three-quarters of U.S.

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

PYMNTS

DECEMBER 12, 2017

“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. About 44 percent of payments received are in the form of a paper check too, the report noted.

Accounts 44

Accounts Wire Transfer Wire Wires 44

FICO

APRIL 29, 2022

Consumers’ seemingly endless adoption of mobile payments continues to fuel a proliferation of new methods in different channels – such as Zelle potentially expanding from P2P to POS. 04%), NACHA officials say business email compromise attempts are on the upswing – just as they are across every channel.

Retail Payments 52

Retail Payments Zelle Romance Scams Consumer 52

PYMNTS

JANUARY 30, 2020

Analysts today expect APAC to see the fastest rate of faster payments growth of any other geographic region on the planet, according to a 2018 report. The Asia-Pacific (APAC) region is one in which faster payment capabilities are quickly proliferating. ” Unwrapping The Fraud Threat. . ”

Faster Payments 43

Faster Payments APACS Real Time Payments Financial Crimes 43

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. For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts. Source: Openpath.

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