PYMNTS

JULY 30, 2018

A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. Last year, small business accounting company MYOB had its name used by phishing scammers who targeted small businesses. While there are several versions of the email, they all include the Square logo, according to reports.

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Phishing Scams Business Email Compromise Email Compromise 51

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. The phishing tool uses simulated attacks to test users and tracks how they reply.

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Phishing Wire Transfer Email Compromise Business Email Compromise 67

PYMNTS

APRIL 12, 2019

Thus, business email compromise fraud (BEC) is evolving too. As reported in darkreading.com, the gangs using BEC – new gangs and seasoned gangs – have recently been targeting human resource and finance professionals to grab direct deposit payroll information to siphon off funds.

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Business Email Compromise AFP ACH Email Compromise 46

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.

Business Email Compromise 91

Business Email Compromise Scams Crime Email Compromise 91

Payments Source

JUNE 28, 2018

Payments fraud from business email compromise, or BEC, occurs when scammers use phishing tricks and email to fool businesses into making fraudulent payments to perceived suppliers. Experts suggest newer factors are accelerating the trend.

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Email Compromise Business Email Compromise Phishing Compromise 68

PYMNTS

FEBRUARY 24, 2020

In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). 75,000 is the average loss of a BEC scam , new data from the FBI has revealed. Tax season is upon U.S.

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Business Email Compromise Scams Email Compromise Phishing 65

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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Email Compromise FBI Compromise Business Email Compromise 56

PYMNTS

APRIL 4, 2019

Meanwhile, instances of the Business Email Compromise (BEC) are also on the rise: About 47 percent of all incidents examined last year were the result of a hack or malware — and, of those, about half were BEC scams. Through the spear phishing campaign, an unwilling employee inputs those credentials for the criminal.

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PYMNTS

SEPTEMBER 8, 2020

. $80,000 is now the average amount phishers demand from their business email compromise targets , according to new research from the Anti-Phishing Working Group (APWG) in its second-quarter 2020 Phishing Activity Trends Report. The average sought in a BEC scam is up from $54,000 in the first quarter of the year. $1

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

PYMNTS

MAY 1, 2017

Phishing attacks can happen to even the most vigilant among us. 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. Kim, in a statement.

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Scams Business Email Compromise Email Compromise Identity Theft 47

PYMNTS

SEPTEMBER 21, 2019

Information on phishing email or BEC scam campaigns, for instance, can be shared to help small businesses protect themselves before an attack occurs. 20 percent of Business Email Compromise scams request payroll diversions new data from the Anti-Phishing Working Group (APWG) revealed in a report published last week.

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Data Breach Breach Small Business Business Email Compromise 80

Nanonets

NOVEMBER 14, 2023

Business Email Compromise (BEC) is a cyber threat that exploits the vulnerabilities of email communication. In business operations, BEC is often used to manipulate individuals within an organization for financial fraud or unauthorized access to sensitive information. What is Business Email Compromise (BEC)?

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Email Compromise Business Email Compromise Compromise Phishing 52

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

PYMNTS

MAY 12, 2017

. …………… 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. Late last week, approximately one million Gmail users (or about 0.1 billion across organizations.

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

PYMNTS

JULY 5, 2019

BEC: Fraudsters are leveraging variants in business email compromise (BEC) fraud, finding new ways to siphon off money from corporates. FireEye finds that there was a 26 percent boost quarter over quarter in malicious emails that sought to bring users to phishing sites and spoofed major brands.

Business Email Compromise 51

Business Email Compromise Email Compromise Phishing Database 51

PYMNTS

FEBRUARY 20, 2020

In other corporate fraud news , phishing defense firm Agari has concluded an investigation on one of the largest fraud perpetrators in a long time: Exaggerated Lion. If a CFO had accounting experience, though, as opposed to banking or finance, they were more likely to blow the whistle, the study found.

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Romance Scams Email Compromise Business Email Compromise Phishing 56

PYMNTS

MAY 2, 2017

In other news of note from the Facebook space, it recently came to light that the social media giant, along with Google, were the heretofore unnamed victims of a combined $100 million phishing attack earlier this year. Research from Proofpoint found a 45 percent spike in BEC attacks in the last quarter of 2016 compared to Q3.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

SEPTEMBER 28, 2020

The Financial Crimes Enforcement Network (FinCEN) recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams, all with a COVID-19 twist.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

OCTOBER 7, 2020

The Financial Crimes Enforcement Network recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams — all with a COVID-19 twist.

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Bitcoin Consumer Scams Cryptocurrency 93

PYMNTS

DECEMBER 17, 2019

Spoofed phishing site domains are hosted in Turkey and Romania. Hackers spy on the email correspondents and they then use that data to write emails at strategic times, asking for an invoice payment, which is a sophisticated iteration of the business email compromise (BEC) scam that is “particularly hard to spot,” Agari noted.

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Credential Scams Email Compromise Business Email Compromise 40

PYMNTS

DECEMBER 14, 2020

Security experts have advised individuals to be extra vigilant during the busy holiday shopping season, and also warned corporate users working remotely to be aware of a rise in business email compromise (BEC) scams that target players in the COVID-19 vaccine supply chain.

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Government Governance Security Cybersecurity 85

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

DECEMBER 20, 2019

They engaged in a phishing scheme, sending emails to employees and agents of the companies, seeking outstanding bills and asking the companies to send money to accounts in Latvia and Cyprus that Rimasauskas operated, according to U.S. federal prosecutors. In 2017, Rimasauskas was arrested in Lithuania and extradited to the U.S.

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PYMNTS

DECEMBER 7, 2018

The scope of the scam comes courtesy of cyber threat detection firm Agari, which has said the group, London Blue, seeks to ply its trade through the business email compromise (BEC) effort. Doing so gives it the attack volume of a mass spam campaign, but with the target-specific customization of spear-phishing attacks.”

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Scams Credit Cards Email Compromise Business Email Compromise 68

PYMNTS

OCTOBER 17, 2018

The SEC’s investigations focused on “business email compromises” (BECs), where criminals posed as company executives or vendors and used emails to trick employees into sending large sums to fraudulent bank accounts. The activity sometimes lasted months and was often only discovered after law enforcement or other third parties got involved.

Cybersecurity 76

Cybersecurity Email Compromise Law Enforcement Business Email Compromise 76

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. In a press release on Tuesday (Feb.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

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. ”

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Cybersecurity Small Business Phishing Email Compromise 40

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. The most damaging form of BEC is account takeover (ATO) attacks.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

DECEMBER 5, 2019

which is the group of hackers behind the Dridex malware used in phishing email attacks. Yakubets, who also has been known as “aqua,” has been cited as being the leader of Evil Corp., Treasury Department also said that he has provided “direct assistance” to the Russian government, and has ties to that country’s intelligence organization.

Treasury 52

Treasury Wires Wire Credential 52

PYMNTS

DECEMBER 5, 2019

which is the group of hackers behind the Dridex malware used in phishing email attacks. Yakubets, who also has been known as “aqua,” has been cited as being the leader of Evil Corp., Treasury Department also said that he has provided “direct assistance” to the Russian government, and has ties to that country’s intelligence organization.

Treasury 52

Treasury Wires Wire Credential 52

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. “No legitimate business or utility will call you and ask you to make a payment using a Green Dot card,” AG Frosh said in a statement.

Ransomware 77

Ransomware Online and Mobile Banking Scams Small Business 77

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. The Burden Of Responsibility.

Email Compromise 96

Email Compromise Compromise Business Email Compromise Phishing 96

PYMNTS

DECEMBER 8, 2020

According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. The FBI also noted that this scam can often be coupled with other types of fraud, sometimes coming in the form of BEC in which a scammer requests a wire transfer or other payment be made.

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FBI Business Email Compromise Scams Mitigation 71

PYMNTS

OCTOBER 5, 2020

As businesses fall victim to cyberattacks, new data is rolling out to show the prevalence of these incidents — and the scope of efforts by tech firms to help keep businesses safe.

Ransomware 54

Ransomware AFP Breach Payments 54

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. Nearly half of the small businesses surveyed by Hiscox last year said they had been targeted by at least one cyberattack, while 44 percent said they were hit by between two and four attacks.

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Ransomware MSPS Disaster Recovery Cybersecurity 58

CB Insights

JULY 23, 2020

Business email compromise (BEC), where attackers impersonate a corporate email address to fraudulently redirect funds, continues to be one of the most common forms of cyberattacks and takes on several forms. New variations of BEC have emerged during the pandemic. Source: Abnormal Security.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101