PYMNTS

OCTOBER 16, 2020

COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. Fraudsters deploy a variety of different methods when attacking these apps, ranging from sophisticated methods like account takeovers (ATOs) to impersonation schemes that trick users into sending them money directly.

Zelle 89

Zelle P2P Scams Financial Crimes 89

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise.

Scams 63

Scams Automation Phishing Email Compromise 63

Fi911

JANUARY 18, 2024

They can then open new accounts, apply for loans, or make unauthorized purchases in that person’s name, leaving the victim to deal with the financial and emotional consequences. In other cases, the scammer may leverage the new account — and the credit history it establishes — to obtain other, higher-value accounts.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

Seon

JUNE 15, 2023

The report states that these victims mostly lost their money to BEC scams. A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks. Reported losses in 2020 exceeded $4.2 What Is a Business Email Compromise Attack?

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52