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BEC Scammers Embrace Coronavirus Opportunity

PYMNTS

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. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.

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Cyberattackers Turn To Payments Fraud, Ransomware As Tech Firms Fight Back

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81 percent is the share of business owners who experienced payments fraud in 2019, according to a JPMorgan Chase announcement , citing a recent poll by the Association for Financial Professionals (AFP) and J.P. Over one-third of the ransomware strain’s victims have been estimated to have made a ransom payment.