PYMNTS

FEBRUARY 12, 2020

According to the 2019 edition of the FBI’s Internet Crime Report , last year was both a lucrative and diverse year for cybercriminals and scammers. All in, the FBI’s Internet Crime Complaint Center (IC3) received a total of 467,361 complaints, with reported losses exceeding $3.5

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

DECEMBER 16, 2020

More than $134 million was lost to such scams in 2019, according to the Federal Trade Commission (FTC), while $117 million was lost to them during the first half of 2020 alone. Such schemes entail fraudsters falsely advertising offers from restaurants on social media, then duping victims into paying for them and absconding with the funds.

Bots 124

Bots Federal Trade Commission Monetary Loss AI 124

The Fintech Times

FEBRUARY 19, 2025

.” Risks of automation dependance Sharing a similar view, Adam Ennamli , chief risk and security officer at General Bank of Canada , added: “Failures can have existential consequences, from significant monetary losses to complete loss of market trust and regulatory penalties.

AI 64

AI Risk Monetary Loss Automation 64

PYMNTS

JANUARY 27, 2020

Separate analysis from Singapore warned that monetary losses associated with BEC scams that specifically instruct targeted employees to send gift card redemption details are on the rise, too. BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

FICO

SEPTEMBER 16, 2020

Whilst data compromises drove up card fraud in the UK in 2018, they were not at the same scale and ferocity as 2019. Overall, the 18 countries covered in our map reduced card fraud by 2% in 2019. See the interactive map at www.fico.com/europeanfraud. But there were also some worrying increases.

Compromise 52

Compromise Monetary Loss Deposit Account Volume 52

FICO

JUNE 21, 2021

FICO’s European Fraud Map for 2020, based on data from Euromonitor International , shows that the UK achieved the greatest fall in card fraud monetary losses among the 18 countries studied, dropping 7 percent and £46 million year-on-year. However, other nations did not fare as well. Source: FICO European Fraud Map. .

Smishing 52

Smishing Phishing Monetary Loss Compromise 52

PYMNTS

JULY 8, 2020

The report suggested that Nordstrom would pay “up to a full reconciliation should 2020 sales reach 90 percent of sales made in that location in 2019.” A letter from President of Stores Jamie Nordstrom to landlords on Friday showed that the company would use same-store comparisons as the basis for its decision to make its lease payments.

Monetary Loss 60

Monetary Loss Authentication Reconciliation Breach 60