PYMNTS

JUNE 10, 2019

Business enterprise compromise (BEC) scams are crossing borders, where fraudsters in Africa are targeting U.S. As reported by Threatpost , earlier this month, researchers in London identified a cybersecurity gang that has evolved markedly in scale. The fraud evolved into romance scams a few years later, then BEC scams in 2015. “I

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Business Email Compromise Scams Romance Scams Counterfeit Check 51

The Paypers

APRIL 24, 2020

Switzerland-based cybersecurity service provider GlobeX Data has announced that it is planning to launch a new service against BEC (Business Email Compromise) attacks.

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Business Email Compromise Email Compromise Scams Compromise 36

PYMNTS

MARCH 21, 2019

As researchers at Agari reported, business email compromise (BEC) attacks have been going mobile. As noted in other BEC scams, often the criminal impersonates an executive with the company. The Agari research found that the BEC scams play out similarly to gift card scams. phone number.

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Business Email Compromise Scams Email Compromise Cross-Border 45

The Paypers

APRIL 24, 2020

Switzerland-based cybersecurity service provider GlobeX Data has announced that it is planning to launch a new service against BEC (Business Email Compromise) attacks.

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Business Email Compromise Email Compromise Scams Compromise 28

PYMNTS

OCTOBER 17, 2018

Securities and Exchange Commission (SEC) has issued a stern warning to public companies: tighten cybersecurity controls or risk being in violation of federal law. The regulator issued a report based on the SEC Enforcement Division’s investigations of nine public companies that lost millions of dollars as the result of cyber fraud.

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Cybersecurity Email Compromise Law Enforcement Business Email Compromise 76

PYMNTS

APRIL 14, 2020

With the business email compromise (BEC) phishing attack a continuously growing threat for businesses large and small, organizations are exploring how strategic cybersecurity investments can protect them when bad actors attempt to steal company cash or redirect business payments. Filtering The Inbox.

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PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. Just last week, IBM cybersecurity experts uncovered a widespread BEC attack targeting players in the coronavirus vaccine supply chain. But the BEC scam is not the only kind of business payments fraud plaguing firms today.

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PYMNTS

FEBRUARY 20, 2019

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. The service includes educational materials as well, like training videos and guidance on internal cybersecurity policy development. In a press release on Tuesday (Feb. In a press release on Tuesday (Feb. Education Is Key.

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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. The year-over-year cybersecurity budget increase amounts to an average spend of $2,691 per employee.

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PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. And while the BEC is not the most common form scam, it is a lucrative one. billion (or slightly over half) of all losses tracked in 2019.

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PYMNTS

JANUARY 16, 2020

The business email compromise (BEC) scam is a cybersecurity threat to businesses of all sizes, and the financial and security implications of a successful attack aren’t isolated to its target. The BEC scam can manifest in many forms. As the threat grows more sophisticated, so do cybersecurity initiatives. Beyond The BEC.

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PYMNTS

NOVEMBER 30, 2020

A hacker is reportedly selling information from hundreds of C-suite executives' Microsoft -based email accounts, according to a report from Engadget. The targets spanned CEOs, vice presidents and directors, and included "the chief of a mid-sized American software company, the president of a U.S.

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PYMNTS

SEPTEMBER 30, 2019

The FBI has been vocal in recent years about the growing threat and subsequent damages linked to the Business Email Compromise (BEC) scam, which targets accounts payable departments in an attempt to steal company cash. The operation also reportedly led to the recovery of about $118 million in fraudulent wire transfers linked to BEC scams.

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PYMNTS

JANUARY 13, 2020

That means the vast majority of businesses are at risk for an array of cybersecurity incidents, including the Business Email Compromise (BEC), which often sees fraudsters spoofing legitimate email addresses from vendors, and sending seemingly real requests for payment. According to local Kentucky Today reports, $1.5

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PYMNTS

FEBRUARY 24, 2020

2,100 corporates were targeted in a widespread business email compromise (BEC) scam recently uncovered by cybersecurity company Agari , the firm revealed last week. 75,000 is the average loss of a BEC scam , new data from the FBI has revealed. 75,000 is the average loss of a BEC scam , new data from the FBI has revealed.

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PYMNTS

DECEMBER 8, 2020

As NETSCOUT Area Vice President of Engineering, Threat and Mitigation Products Hardik Modi told PYMNTS, cybersecurity is now top of mind for many of these firms. According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam.

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FBI Business Email Compromise Scams Mitigation 71

PYMNTS

AUGUST 10, 2018

“One is the online reputation, and the other is cybersecurity.” On the other side of this coin is the cybersecurity threats that inevitably come with establishing a digital presence of any kind. On the customer-facing side is the online reputation.

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Cybersecurity Small Business Phishing Email Compromise 40

PYMNTS

DECEMBER 14, 2020

The FBI is currently investigating the attacks, and the federal Cybersecurity and Infrastructure Security Agency (CISA) issued a warning Sunday about an “active exploitation” that involved SolarWinds ’ Orion Platform software. That software was released earlier this year, between March and June. “We Two Major Attacks In One Week.

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Government Governance Security Cybersecurity 85

PYMNTS

DECEMBER 2, 2019

As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are urging business owners and executives to take the lead in combatting fraudsters.

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PYMNTS

FEBRUARY 3, 2020

The majority of businesses are at risk for an array of cybersecurity incidents, including the business email compromise (BEC) scam, which often sees fraudsters spoofing legitimate email addresses from vendors, and sending seemingly real requests for payment. .

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PYMNTS

JULY 30, 2018

“By targeting popular brands, recipients are more likely to have a relationship with the company being impersonated,” said cybersecurity company MailGuard. A recent warning from the Federal Bureau of Investigation revealed that business email compromise (BEC) scams have now led to $12 billion in diverted funds.

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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. Furthermore, traditional cybersecurity technology cannot always detect this kind of attack. New Attacks Emerge.

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Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 21, 2019

As lawmakers ponder this risk, PYMNTS highlights some of the newest data points uncovered by researchers examining small business cybersecurity. Information on phishing email or BEC scam campaigns, for instance, can be shared to help small businesses protect themselves before an attack occurs.

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PYMNTS

JULY 20, 2018

Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on the rise. The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018.

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PYMNTS

MAY 1, 2017

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. BEC fraud has been on the rise across the globe. The Federal Bureau of Investigation said it had found that BEC scams led to $3.1

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PYMNTS

JANUARY 9, 2019

While financial services (FinServ) innovations often emerge with built-in security measures, new market trends — including faster payments and open banking — are introducing new security threats to corporate treasury departments, according to cybersecurity company BioCatch. The tactic is relatively simple.

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Faster Payments Business Email Compromise Treasury Real Time Payments 56

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. The most effective means for business protection from ransomware is a backup and disaster recovery solution, followed by cybersecurity training.”.

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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. Additional Attacks Putting the Enterprise at Risk.

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PYMNTS

FEBRUARY 14, 2020

B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise. billion in losses were due to BEC fraud last year. That’s up 40 percent over 2018. And as of last year, according to the bureau’s latest cybercrime report , and now are half of all losses from cybercrime. An estimated $1.77

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PYMNTS

MARCH 6, 2020

In addition to providing cybersecurity services, the company’s technology could prove important for businesses and governments facing a surging threat of Business Email Compromise (BEC) and other social engineering and phishing scams flowing in via their email platforms. Chqbook.com.

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PYMNTS

MAY 12, 2017

businesses lose an estimated $50 billion each year due to identity fraud incidents. …………… Here are other top cybersecurity stories that made headlines this past week: One Million Gmail Users Affected By Google Docs Phishing Scam. The study found that, all told, U.S. FBI Sees Wire Fraud Via Email Grow In 2016.

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PYMNTS

NOVEMBER 7, 2017

With the cybersecurity threat constantly looming and, in many instances, growing for corporations, a new report from Kaspersky Lab suggests businesses shouldn’t necessarily rely on their IT departments to safeguard their firms. But increased hiring may not be on the agenda, as cybersecurity spend has stalled for many organizations.

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PYMNTS

NOVEMBER 6, 2017

Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime. Reports in The Art Newspaper say BEC scammers seem to have a new favorite target this time: art galleries.

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PYMNTS

MAY 2, 2017

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. The news that the two tech giants were the victims of such an attack comes as instances of BEC fraud have been on the rise across the globe.

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PYMNTS

OCTOBER 15, 2018

AG Frosh’s warning pertained to a specific small-business cybersecurity threat. 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. “This is a scam, pure and simple.

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Ransomware Online and Mobile Banking Small Business Scams 77

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. Of course, for retailers, combating fraud is complicated that just beefing up cybersecurity protections. The consumer experience matters — from entering the home page through to making payments.

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PYMNTS

NOVEMBER 21, 2019

A press release said KPMG is collaborating with cybersecurity provider nsKnox to roll out its KPMG Secure Payments tool, distributed and serviced by KPMG Israel. KPMG will connect corporate clients to nsKnox’s suite of cybersecurity tools and provide real-time detection and blocking of fraudulent transactions.

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