PYMNTS

MARCH 9, 2020

The FBI has once again sounded the alarm on the proliferation of digital fraud like ransomware and the business email compromise (BEC) scam, releasing new stats on the financial damage such criminal activity has caused in the U.S. in recent years. billion in 2019.

Business Email Compromise 56

Business Email Compromise FBI Email Compromise Scams 56

PYMNTS

AUGUST 5, 2019

Business email compromise (BEC) attempt scams are gaining traction, targeting billions of dollars in ill-gotten gains. As reported by businessinsights.com , the agency has found more than 32,000 documented cases of BEC attempts during that timeframe. Taken on a daily basis, the BEC scams have tried to siphon off $8.7

Business Email Compromise 43

Business Email Compromise Fincen Scams Email Compromise 43

PYMNTS

FEBRUARY 24, 2020

41 percent more ransomware attacks were initiated last year , the New York Times reported, citing data from Emsisoft, with 205,280 businesses losing access to their data as a result. 75,000 is the average loss of a BEC scam , new data from the FBI has revealed. billion in total cybercrime-related losses for the year.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

APRIL 4, 2019

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. As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR).

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. The average sought in a BEC scam is up from $54,000 in the first quarter of the year. $1 million per targeted attack.

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

PYMNTS

OCTOBER 15, 2018

It’s a twist on the business email compromise (BEC) scam that typically involves scammers emailing business owners and seeking payment via wire transfer, ACH or paper check. 133,000: the average cost of a ransomware attack on a small business. “This is a scam, pure and simple. .

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays. Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports.

B2B 89

B2B Wire Transfer FBI Cybersecurity 89

PYMNTS

DECEMBER 6, 2016

KnowBe4 , a security awareness training and simulated phishing platform provider, launched a new tool designed to help IT managers combat CEO fraud, or Business Email Compromise (BEC) as it is referred to by the FBI. Those replies are then recorded and made available for IT managers to download and review if needed.

Phishing 67

Phishing Wire Transfer Email Compromise Business Email Compromise 67

The Paypers

JUNE 27, 2018

(The Paypers) PricewaterhouseCoopers (PwC) has warned organisations and individuals about the rising Business Email Compromise (BEC) rates.

Business Email Compromise 28

Business Email Compromise Email Compromise Ransomware Compromise 28

PYMNTS

SEPTEMBER 14, 2017

Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. A fifth of survey respondents who had been hit by some type of cyberattack said it was the result of a BEC, making this cybercrime the number one tactic fraudsters use. billion in total losses since 2013.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

SEPTEMBER 13, 2018

Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force. Of MSPs surveyed, about 75 percent said their SMB customers experienced “business-threatening” downtime as a result of a ransomware attack, said Datto’s chief technology officer, Robert Gibbons.

Ransomware 58

Ransomware MSPS Disaster Recovery Cybersecurity 58

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

APRIL 30, 2018

With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared to a year prior, corporate treasurers have been forced to swallow the large, uncomfortable pill of the threat of cyberattacks and fraud on their organizations in a short amount of time. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Treasury Ransomware Wires 59

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. COVID-19 has afforded internet villains what will certainly go down as the greatest cybertheft opportunity of their shadowy lifetimes.

Scams 63

Scams Automation Phishing Email Compromise 63

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 5, 2017

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. Ransomware, Cyberespionage On The Rise. Ransomware, Cyberespionage On The Rise. But that’s not all.

Breach 45

Breach Business Email Compromise Data Breach Cybersecurity 45

PYMNTS

MAY 7, 2018

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. That’s the reality: Every system can be compromised.” Verify transaction requests. Report any suspicious activity.

Same Day ACH 47

Same Day ACH Fraud Detection ACH NACHA 47

PYMNTS

JUNE 21, 2019

In Florida, The New York Times reported on Thursday (June 20), government officials of Riviera Beach voted to pay nearly $600,000 worth of ransom to hackers, just weeks after Baltimore paid $18 million for a similarly crippling ransomware cyberattack against government systems.

Governance 43

Governance Government Scams Ransomware 43