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

DECEMBER 21, 2018

The findings came from a survey of 2,000 individuals between 2013 to 2018. In examples of the ill-famed business email compromise ( BEC ) scams that seem to make frequent headlines, $1 million was transferred from the Save the Children Foundation. The FBI noted that as much as $12.5

Business Email Compromise 60

Business Email Compromise Email Compromise Advisors FBI 60

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

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

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

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.

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

PYMNTS

FEBRUARY 14, 2020

Cross-Border Payments: Cross-border transfers over SWIFT’s global payments innovation (also known as gpi) topped $77 trillion last year, almost double the $40 trillion that moved through the service in 2018. That’s up 40 percent over 2018. B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise.

Business Email Compromise 52

Business Email Compromise Cross-Border Romance Scams FTC 52

CB Insights

JULY 23, 2020

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. ” Instances of intrusion were so frequent that the FBI issued a warning about the phenomenon. This became known as “Zoombombing.”

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Posting Cybersecurity Returns Online and Mobile Banking 101