2020, Email Compromise and Research

Brexit Raises The Stakes For B2B Payments Fraud

PYMNTS

DECEMBER 28, 2020

In a recent announcement, Nacha said that a survey it conducted in collaboration with Blueflame Consulting and Research revealed the accounts payable department's growing exposure to fraud risks, the result of challenges in maintaining and verifying data, vendor on-boarding, and other manual tasks.

B2B

B2B Email Compromise NACHA Small Business

SEC Issues Corporate Fraud Warning As BEC Scams Climb

PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Researchers examined cases of ransomware attacks in the third quarter of 2020 and found that the average payout rose 31 percent.

Business Email Compromise

Business Email Compromise Scams Ransomware Email Compromise

Checks, Spreadsheets Expose Firms To Growing Fraud Risk

PYMNTS

JUNE 22, 2020

1 in 10 small businesses are able to cover more than 50 percent of fraud losses , the latest research from Bottomline Technologies revealed in its Bottomline 2020 Business Payments Barometer report. ” Coronavirus-related scams are on the rise, too, researchers found. The company found that 58 percent of U.K. ” $1.4

Checks

Checks Risk Business Email Compromise Email Compromise

Webinars

From Start to Scale: Driving Growth Through Seamless Payments Implementation

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Bottomline Helps Small Businesses Apply For COVID-19 Relief Funding

PYMNTS

APRIL 2, 2020

In February, Bottomline released its 2020 Treasury Fraud and Controls Survey in partnership with Strategic Treasurer, a Georgia-based financial processing company. Researchers said the findings underscore the acknowledgment that fraudsters are stratifying their methods to optimize returns by automating and scaling attacks.

Small Business

Small Business Email Compromise Ransomware Compromise

Corporate Fraud Reveals The Breadth Of Scammer Tactics

PYMNTS

AUGUST 17, 2020

In this week’s Data Digest, PYMNTS rounds up the latest cases and research into how corporates are being targeted with crimes like the business email compromise (BEC) scam, as well as how they’re fighting back. When it comes to fraud threats, no company — large or small — is immune.

Business Email Compromise

Business Email Compromise Federal Trade Commission Scams Cybersecurity

BEC Scammers Embrace Coronavirus Opportunity

PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud.

Business Email Compromise

Business Email Compromise Email Compromise Scams Law Enforcement

Corporates Brace For BEC Scam Ramp-Up

PYMNTS

NOVEMBER 18, 2019

In Ireland, police are sounding the alarm on the threat of B2B payments fraud after multiple businesses lost hundreds of thousands of dollars to business email compromise (BEC) scams. Hassold provided a public comment on the vendor email compromise scam. Meanwhile, in the U.K.,

Business Email Compromise

Business Email Compromise Scams Email Compromise Compromise

Fraudsters Try New Spins On The BEC Scam

PYMNTS

JANUARY 27, 2020

The Business Email Compromise (BEC) continues to evolve. The publication, citing Agari research, warned that the tactic makes BEC scammers’ messages all the more convincing. Other attacks hit small businesses with demands as low as $1,500, researchers found.

Business Email Compromise

Business Email Compromise Scams Ransomware Real Time Payments

GIACT: It’s Time To Fight Back Against Fraud

PYMNTS

JANUARY 21, 2021

Fraud was red-hot in 2020. Particularly stunning this year was the volume of business email compromise (BEC) attacks, which, according to the FBI, is already a $2 billion-a-year business. 2020 was a tough enough year already. I n " A Look Forward: What Executives Wish for America and the World in 2021."

Email Compromise

Email Compromise Business Email Compromise FBI Fraud Prevention

Cyberattackers Go Global To Steal Company Cash

PYMNTS

SEPTEMBER 8, 2020

80,000 is now the average amount phishers demand from their business email compromise targets , according to new research from the Anti-Phishing Working Group (APWG) in its second-quarter 2020 Phishing Activity Trends Report. million per targeted attack.

Business Email Compromise

Business Email Compromise Ransomware Payee Overlay Service

Retail Payments Fraud: How Consumers and Banks Can Fight Back

FICO

APRIL 29, 2022

Nearly 18 million Americans were defrauded through scams involving digital wallets and person-to-person apps in 2020, according to Javelin Strategy & Research, an industry consultant. 04%), NACHA officials say business email compromise attempts are on the upswing – just as they are across every channel.

Retail Payments

Retail Payments Zelle Romance Scams Consumer

Reopening: The Tech-Enabled Office In A Post-Covid World

CB Insights

JULY 23, 2020

At the end of May 2020, Salesforce reopened its offices in South Korea, Hong Kong, and China. The company received $20M in Series B funding in March 2020. In March 2020, a Covid-19 outbreak occurred in a South Korean call center. She waves at a colleague working at a workstation a few seats down. Source: VergeSense.

Posting

Posting Cybersecurity Returns Online and Mobile Banking

Why The Data Breach Decline Is Bad News For Businesses

PYMNTS

FEBRUARY 1, 2021

The Interstate Technology & Regulatory Council (ITRC) released new data on the state of cyberattacks and data breaches with some surprising news: data breaches were actually down in 2020 year-over-year. But the findings aren't necessarily cause for optimism, warns ITRC President and CEO Eva Velasquez.

Data Breach

Data Breach Breach Business Email Compromise Scams

Invoice Fraud Strikes Amazon In $19M Scam

PYMNTS

AUGUST 24, 2020

This week's B2B Data Digest looks at the rising threat of the business email compromise (BEC) scam and invoice fraud on companies of all sizes in the U.S., Reports in Security Boulevard said that the 60 percent spike occurred in just three months, with the average payout being $178,254 for Q2 2020, compared to $111,605 in Q1.

Scams

Scams Business Email Compromise Ransomware Email Compromise

Payments Space

Brexit Raises The Stakes For B2B Payments Fraud

SEC Issues Corporate Fraud Warning As BEC Scams Climb

Checks, Spreadsheets Expose Firms To Growing Fraud Risk

Webinars

Bottomline Helps Small Businesses Apply For COVID-19 Relief Funding

Corporate Fraud Reveals The Breadth Of Scammer Tactics

BEC Scammers Embrace Coronavirus Opportunity

Corporates Brace For BEC Scam Ramp-Up

Fraudsters Try New Spins On The BEC Scam

GIACT: It’s Time To Fight Back Against Fraud

Cyberattackers Go Global To Steal Company Cash

Retail Payments Fraud: How Consumers and Banks Can Fight Back

Reopening: The Tech-Enabled Office In A Post-Covid World

Why The Data Breach Decline Is Bad News For Businesses

Invoice Fraud Strikes Amazon In $19M Scam

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