The Paypers

APRIL 29, 2019

(The Paypers) The statistics gathered by the FBI’s Internet Crime Complaint Center (IC3) revealed that Internet-enabled theft was responsible for over USD 2.7 billion in financial losses in 2018.

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PYMNTS

FEBRUARY 23, 2020

In one major example in 2018, Frank Krasovec, the chairman of Dash Brands, owner of Domino’s Pizza franchises in China, lost $450,000 when a fraudster intercepted his email. billion was lost in 2019 from similar scams, according to the Federal Bureau of Investigation (FBI), up from roughly $1.3 billion in 2018. Close to $1.8

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SEPTEMBER 30, 2018

government’s total spending on blockchain analysis companies has more than tripled since the beginning of 2018, and is currently at $5.7 government’s purchase orders and contracts with blockchain analysis firms has grown significantly since the start of 2018, with the majority of the spending (38 percent) from the Internal Revenue Service.

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FEBRUARY 24, 2019

The FBI is looking to speak with anyone who invested in the proprietary token offered by BitConnect. The entire market for BCC crashed in late January 2018, after two U.S. Once the change goes into effect later this year, businesses can obtain a license to operate as depositories for the tokens.

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JULY 20, 2018

The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018. According to the FBI, the Internet Crime Complaint Center (IC3) recorded 41,048 U.S. billion in losses.

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PYMNTS

OCTOBER 14, 2019

The FBI recently warned that “high impact” attacks would be hitting large companies. Ransomware attacks are becoming more targeted, sophisticated, and costly, even as the overall frequency of attacks remains consistent,” the FBI said in the warning. The company has more than 1.5

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PYMNTS

JANUARY 4, 2019

million USD) was lost in the first six months of 2018 alone, and the average losses stemmed across thousands of pounds for individuals and tens of thousands of pounds for businesses. Through the “Don’t Be a Mule” campaign, the FBI has been warning that the fraudsters are targeting companies, schools and nonprofits across the United States.

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AUGUST 7, 2020

The police worked with the FBI to trace and identify the Bitcoin involved. The site’s two head operators allegedly distributed over 880,000 pirated movie copies from 2013 to 2018 and have allegedly used the site’s ad and subscription revenue to buy real estate and Bitcoin. Movie2k.to

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PYMNTS

NOVEMBER 30, 2020

billion is estimated to be the total cost of BEC damages worldwide , according to data from the FBI cited in a new report from Netpoleon Solutions. Titled "Business Email Compromise (BEC): How does it attack your business and how can you prevent it?"

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PYMNTS

OCTOBER 14, 2019

The FBI recently warned that “high impact” attacks would be hitting large companies. Ransomware attacks are becoming more targeted, sophisticated, and costly, even as the overall frequency of attacks remains consistent,” the FBI said in the warning. The company has more than 1.5

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Ransomware FBI Consulting Encryption 46

PYMNTS

JULY 21, 2020

billion in 2019, a 15 percent increase over 2018. Fraudsters also frequently target mobile banking apps, and these types of attacks are also expected to be on the rise in the coming months, according to the FBI. The increase in credit card fraud is part of a larger trend over the past several years, with such losses totaling $16.9

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PYMNTS

SEPTEMBER 11, 2019

This is not the first time the FBI has sounded a warning about business email compromise. billion in 2018. The numbers come from the FBI’s annual Internet Crime Report , which detailed that the use of social engineering, emails and other methods to get victims to wire money to fraudsters was a lucrative business. Fraud Trends.

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PYMNTS

MAY 28, 2019

billion – of funds were lost to card fraud in 2018, up from $1.4 The FBI’s Internet Crime Complaint Center (IC3) said in a report, for instance, that online fraud, theft and exploitation led to $2.7 IC3 Chief Donna Gregory said in an announcement, according to reports , “The 2018 report shows how prevalent these crimes are.

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PYMNTS

APRIL 30, 2019

In a letter to California’s attorney general, the virtualization and security software creator revealed the hackers had “intermittent access” to its internal network from October 13, 2018 until March 8, 2019, two days after the FBI alerted the company that it had been breached.

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PYMNTS

JULY 29, 2019

As noted by the Financial Crime Enforcement Network (FinCEN), the number of reports of BEC rose to a monthly average of more than 1,100 in 2018, where the tally had been 500 in 2016. That translates to a value of attempted BEC threats that jumped from $110 million monthly in 2016 to $301 million monthly in 2018. billion.

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PYMNTS

AUGUST 16, 2019

The sources pointed out that about one-third of its employees left in 2018. According to a report in The Wall Street Journal , sources said that employees sent a warning to Capital One about high turnover in its cybersecurity unit as well as the failure to install some software to help spot and defend against hacks.

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MAY 20, 2020

billion, up more than 150 percent from all of 2018. And as noted in this space last week, the FBI warned that crypto-related scams are gaining traction. The FBI also noted that “many traditional financial crimes and money laundering schemes are now orchestrated via cryptocurrencies.”.

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PYMNTS

AUGUST 20, 2018

eMarketer also projects that P2P payment use will increase 30 percent in 2018, encompassing about 40 percent of U.S. Overall, eMarketer forecasts that the transaction volume of P2P payments will increase by 37 percent in 2018 to reach just over $167 billion this year. . — more than Venmo’s 22.9 million users. million people.

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PYMNTS

AUGUST 20, 2018

eMarketer also project that P2P payment use will increase 30 percent in 2018 – encompassing about 40 percent of U.S. Overall, eMarketer forecasts that the transaction volume of P2P payments will increase by 37 percent in 2018 to reach just over $167 billion this year. . — more than Venmo’s 22.9 million users. “. million people.

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PYMNTS

SEPTEMBER 6, 2018

American Express announced its 2018 Grow Global Survey on Wednesday (Sept. Federal Bureau of Investigation (FBI) is investigating American Express for unfair foreign exchange pricing practices for corporate customers that make international payments. 5), revealing in its survey of 500 U.S.-based

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JANUARY 31, 2020

s Ticketmaster site in June 2018. The FBI says it has been monitoring eSkimming for almost seven years. Firms of all sizes have been impacted by eSkimming attacks in the past two years, including the Australian Puma website in April, Macy’s in October and the U.K.’s

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FBI Crime Cybersecurity Data Breach 52

PYMNTS

DECEMBER 21, 2018

The findings came from a survey of 2,000 individuals between 2013 to 2018. The FBI noted that as much as $12.5 billion has been stolen via BEC from October 2013 to May 2018. In one case, a company gave the thumbs up to an $8,000 designer watch, chalked up to “customer appreciation.”

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Business Email Compromise Email Compromise Advisors FBI 60

PYMNTS

JANUARY 3, 2019

Mark Zuckerberg chose to not sell a single Facebook share in the last quarter of 2018. According to a Bloomberg report, this was the first quarter in more than two years that he didn’t sell any shares.

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Federal Trade Commission FBI FTC Breach 55

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JANUARY 18, 2019

In the meantime, as has been previously reported, the FBI estimated that the global loss from BEC — spanning October 2013 to May 2018 — has hit 150 countries and caused firms to lose as much as $12 billion.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

SEPTEMBER 24, 2018

billion in 300,000-plus reported cyberattacks last year, according to the Federal Bureau of Investigation (FBI). The cybersecurity market is now worth $120 billion, according to 2018 research , a roughly 13,500 percent increase compared to a decade earlier. All told, U.S. businesses and consumers lost more than $1.4

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AI Account Takeovers Data Breach Cybersecurity 78

PYMNTS

JULY 25, 2018

The Federal Bureau of Investigation (FBI) recently issued a public service announcement warning that the BEC scam has now redirected $12 billion worldwide , much of that now having to be written off as a loss for corporates unable to recover the funds.

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Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

AUGUST 1, 2019

The British company knew of the data breach around November 2018, but only now went public with the details, a person familiar with the matter told WSJ. The cyberattack was reported to Pearson by the FBI in March. The data breach mostly affected students in the U.S., revealing information like names, birthdates and email addresses.

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Breach Data Breach FBI Settlement 43

PYMNTS

SEPTEMBER 17, 2018

This comes against a backdrop where, from December 2016 to May 2018, the losses tied to such scams have grown by 136 percent. The real estate sector is especially at risk, the FBI noted — from 2015 to 2017, the number of real estate transaction incidents increased by more than 1,110 percent.

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Business Email Compromise Email Compromise Scams Compromise 61

PYMNTS

SEPTEMBER 16, 2020

One 2018 study estimated that just 20 percent of U.S. Colleges typically spend less than FIs on their digital security or technology innovations, with one 2018 study finding that universities invest an average of about 4.4 This marks a notable shift from previous years. percent of their annual budgets on IT development.

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PYMNTS

SEPTEMBER 11, 2019

PillPack, the online pharmacy that Amazon bought in 2018, has run into a big issue when it comes to determining patient prescription history, according to a report by CNBC. Surescripts said it was “turning the matter over to the FBI for further investigation.”.

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PYMNTS

JUNE 10, 2019

The FBI reported that BEC scam losses roughly doubled in 2018, as measured year over year, to $1.2 And then, as they evolve, you see them growing in size, growing in the breadth and depth of scams they’re launching. They’re evolving very much like a business, from the startup phase to the corporate phase.”.

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Business Email Compromise Scams Romance Scams Counterfeit Check 51

PYMNTS

DECEMBER 8, 2017

The suit is likely to be a civil one, and sources said the timeframe for filing may be during March or April of 2018. requesting information tied to FBI investigations into the heist. In separate but related actions, “letters rogatory” have been sent by a Bangladesh court to the U.S.,

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JANUARY 16, 2020

“The effects of this crime are far-reaching, and the dollar amounts involved are staggering,” said FBI Director Christopher Wray in a statement last September about the BEC scam. According to the FBI, more than $26 billion in losses linked to BEC were reported between July 2016 and September 2019.

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Business Email Compromise Security Scams Email Compromise 44

PYMNTS

DECEMBER 26, 2019

A leading index of digital theft found that loyalty fraud exploded by 89 percent over 2018, opening a vast new front in the battle. When the FBI bobs, cybercrooks weave, and so on. Such is “bundle ID spoofing” that makes false apps look real to ad networks. Then there’s the disturbing rise in loyalty program scams.

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Fraud Detection Bots Law Enforcement AI 52

PYMNTS

DECEMBER 8, 2019

The company pointed to an incident in 2018 as one example of this trend. As well, the FBI recently issued a warning about web skimming. The problem is pretty far-reaching, Dhawan told Webster, with monitoring showing that many companies that would be considered pretty good on security having these browser flaws.

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Consumer Third Party Vendors FBI Security 53

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JANUARY 9, 2019

The Federal Bureau of Investigation (FBI) has now pegged total losses to BEC scams at $12 billion across 150 countries, marking a 136 percent rise in BEC cases between December 2016 and May 2018. The tactic is relatively simple.

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Faster Payments Business Email Compromise Treasury Real Time Payments 56

PYMNTS

MAY 21, 2018

Justice Department and the FBI are investigating the company over how it handled Facebook-derived information. Facebook itself has raised the specter of regulation in the wake of the scandal in which Cambridge Analytica, which now has been shuttered, took information tied to 87 million users without the express permission of those users.

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