PYMNTS

APRIL 4, 2019

As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR). The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

MAY 2, 2017

Department of Justice (DoJ) announced plans to charge a man allegedly responsible for a $100 million business email compromise scam. The DoJ alleges that the man, Evaldas Rimašauskas, used a business email compromise (BEC) scam to trick Facebook and Google into paying fake invoices, impersonating manufacturer Quanta Computer.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

OCTOBER 12, 2020

Healthcare is another major industry that Whitney said is one of “the most at-risk for ransomware and data breaches” with federally mandated patient privacy requirements (HIPPA) being widely implemented and having a compliant IT security framework that is up to date and in place is essential.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

NOVEMBER 13, 2020

billion to business email compromise (BEC) scams last year, for example, and global businesses losing approximately $26 billion between June 2016 and July 2019. Fraud scams targeting these wire transfers have long been an issue, with U.S. companies losing roughly $1.77

Cross-Border 64

Cross-Border Wire Transfer B2B Cross-Border Payments 64

Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. The report states that these victims mostly lost their money to BEC scams. The report states that these victims mostly lost their money to BEC scams. What Is a Business Email Compromise Attack?

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

FEBRUARY 20, 2019

Citing 2018 data from Verizon, Mastercard noted research that suggested the majority of cyberattacks are actually targeted at SMBs, ranging from phishing scams and the Business Email Compromise (BEC) to malware and ransomware attacks.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

MAY 12, 2017

This consumer concern translates to a decrease in confidence in large organizations—which is then exacerbated by data breaches and other security events. From October 2013 through December 2016, a new report from the FBI suggests cybercriminals used business email compromise (BEC) scams to try and steal some $5.3

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

PYMNTS

NOVEMBER 7, 2017

In a survey of business professionals, researchers found that a slight majority (52 percent) acknowledge that a security breach will happen to them at some point — a slight increase from 51 percent last year. Further, 42 percent said they are unsure of how to handle a targeted cyberattack and other types of threats. Targeted Attacks.

Addressing 43

Addressing Security Cybersecurity Email Compromise 43

PYMNTS

MAY 7, 2018

In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. In corporate payments, while fraud is typically linked to wire and checks , the rise in Business Email Compromise (BEC) and account takeovers means ACH fraud is a growing threat, same-day or not.

Same Day ACH 47

Same Day ACH Fraud Detection ACH NACHA 47

PYMNTS

DECEMBER 24, 2018

In short, cumulatively, hundreds of millions of records breached. He described this as a “group of both business email compromise , BEC as it’s called, or CEO fraud.”. It may seem like 2018 was the year of the fraudster, of bad guys and gals acting in concert to steal money, steal privacy and use data for any number of gains.

Financial Crimes 65

Financial Crimes B2B Real Time Payments Crime 65

PYMNTS

AUGUST 10, 2018

Those threats are vast, but Womply’s own research has found that most of these attacks are in the form of phishing and business email compromise (BEC) scams. On the other side of this coin is the cybersecurity threats that inevitably come with establishing a digital presence of any kind. ”

Cybersecurity 40

Cybersecurity Small Business Phishing Email Compromise 40

PYMNTS

MAY 5, 2017

It’s been a big week in the broader cybersecurity realm, starting with a data breach of Sabre Corporation’s hospitality unit. The compromised Sabre system reports offering seamless connectivity to over 120 property management, 7 revenue management, 7 CRM and 18 content management solutions according to the company’s website.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

CB Insights

JULY 23, 2020

For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts. New variations of BEC have emerged during the pandemic. Source: Abnormal Security. Early detection and remediation have real cost benefits.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101