PYMNTS

OCTOBER 26, 2018

BEC, the acronym for business email compromise scams, is getting its share of attention. The idea , as detailed in the SEC’s Report of Investigation, is that firms should consider cybersecurity as they develop their own internal accounting standards. firms have lost more than $5 billion to BEC scams.

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Business Email Compromise Scams Cybersecurity FBI 49

PYMNTS

AUGUST 24, 2020

The business email compromise (BEC) scam continues to rear its ugly head at the enterprise, with the global pandemic creating even more avenues through which cyber attackers can steal company money. At the heart of BEC and other scams is impersonation.

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Deepfake Business Email Compromise Scams Multifactor Authentication 61

PYMNTS

OCTOBER 12, 2020

With over 5,000 cybersecurity vendors in the U.S. But that problem could be a thing of the past thanks to the launch of the world’s first B2B cybersecurity marketplace that enables buyers to easily search, compare pricing and purchase the right IT solution in one place.

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Cybersecurity B2B Email Compromise Business Email Compromise 83

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

MARCH 21, 2019

As researchers at Agari reported, business email compromise (BEC) attacks have been going mobile. As reported in Credit Union Times , the attacks are still done through email, but also look for mobile number details to “better coerce” intended victims to funnel funds to bad actors’ accounts. phone number.

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Business Email Compromise Scams Email Compromise Cross-Border 45

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.

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Business Email Compromise FBI Email Compromise Scams 101

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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Business Email Compromise Scams Crime Email Compromise 91

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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Business Email Compromise Federal Trade Commission Scams Cybersecurity 94

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

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.

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Business Email Compromise Security Scams Email Compromise 44

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. billion in total cybercrime-related losses for the year.

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Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

JANUARY 13, 2020

Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports. The risk can also lead to fraudsters spoofing the email addresses of C-Suite executives to initiate payments to a fraudster’s account. According to local Kentucky Today reports, $1.5

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B2B Wire Transfer Cybersecurity FBI 89

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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Scams Business Email Compromise Email Compromise FBI 43

PYMNTS

MAY 1, 2017

Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $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.

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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. billion in total losses since 2013.

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Scams Email Compromise Business Email Compromise Compromise 41

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

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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Business Email Compromise Scams Email Compromise B2B 70

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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Scams B2B Email Compromise Business Email Compromise 52

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

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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Data Breach Breach Small Business Business Email Compromise 80

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

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

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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B2B FinTech MSPS Email Compromise 80

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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Scams Business Email Compromise Email Compromise Wire Transfer 43

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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Business Email Compromise Cross-Border Romance Scams FTC 52

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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Ransomware MSPS Disaster Recovery Cybersecurity 58

PYMNTS

APRIL 30, 2018

While most agreed that the threat of fraud has increased, Strategic Treasurer found that treasurers and their teams are increasing investment in cybersecurity and anti-fraud measures, including security controls, cyber fraud insurance, transaction controls and cybersecurity technologies. “There is a lot more to be done.”

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Email Compromise Treasury Ransomware Wires 59

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

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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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

APRIL 10, 2019

However, instances of the business email compromise scam continued to climb, with 80 percent of companies surveyed reporting they were targeted by a BEC scam, up from 77 percent in 2017. Firms with revenue below $1 billion actually saw a decrease in fraud attempts in 2018, from 73 percent in 2017 to 69 percent last year.

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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.

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Business Email Compromise Email Compromise Scams Phishing 43

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

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. percent of total users) were affected by an email phishing scam.

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Business Email Compromise Phishing ATM FBI 51

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.

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Scams Automation Phishing Email Compromise 63