PYMNTS

FEBRUARY 15, 2019

To that end, phishing attacks, more commonly known as business email compromises (BECs), have been aimed at Bank Secrecy Act (BSA) officials at credit unions. Krebs on Security noted that the emails sent to officials at the United States credit unions looked like they were being sent by other BSA officials.

BSA 49

BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

PYMNTS

JULY 30, 2018

A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. Users should also be on the lookout for typos and grammatical errors in any emails, and be sure not to share sensitive details like payment card information or Social Security numbers. That’s an instant foot in the door.”.

Phishing 51

Phishing Scams Business Email Compromise Email Compromise 51

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.

Business Email Compromise 46

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

PYMNTS

DECEMBER 14, 2020

Treasury and Commerce departments are unable to protect their digital databases, lesser organizations would be seemingly hard-pressed to prevent similar security breaches. Justice Department, National Security Agency and the White House. The thinking goes that if the U.S. It includes all five branches of the U.S.

Governance 85

Governance Government Security Cybersecurity 85

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.

Email Compromise 68

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.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

APRIL 4, 2019

. “The threat posed by cybercriminals continues to grow in complexity as they devise new techniques to breach IT security and trick unsuspecting employees into allowing them access to systems,” said Beazley Global Head of BBR Services Katherine Keefe in a statement. New Attacks Emerge.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 21, 2019

It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams: small businesses. Even more troubling, however, is the cloud security company’s finding that most SMBs estimate the cost of a data breach to be just $10,000. Stronger passwords.

Data Breach 80

Data Breach Breach Small Business Business Email Compromise 80

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

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. Next-Level Payments Security.

Scams 63

Scams Automation Phishing Email Compromise 63

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.

Scams 47

Scams Business Email Compromise Email Compromise Identity Theft 47

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)?

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

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. percent of total users) were affected by an email phishing scam. percent of total users) were affected by an email phishing scam. The study found that, all told, U.S.

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

PYMNTS

MARCH 6, 2020

A lull in venture capital funding has only a few B2B FinTechs this week securing new investment rounds. In the meantime, PYMNTS gathered up a shortlist of the B2B FinTechs that were able to secure new funding as backers prepare for their next wave of support. and hoping to expand into Europe. At the same time, the U.S. Mailprotector.

B2B 80

B2B FinTech MSPS Email Compromise 80

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

DECEMBER 17, 2019

Anomali, a security firm, says it has found bogus websites of the U.S., Spoofed phishing site domains are hosted in Turkey and Romania. While the email contains a link to what should be a website for procurement, the victim views a convincing facsimile. Mexico, Canada, Sweden, Australia and South Africa.

Credential 40

Credential Scams Email Compromise Business Email Compromise 40

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. A Marriage Of Advanced Tech With Due Diligence.

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.

Bitcoin 93

Bitcoin Consumer Scams Cryptocurrency 93

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 companies, which each had securities listed on a national stock exchange, were in sectors including technology, machinery, real estate, energy, financial, and consumer goods.

Cybersecurity 76

Cybersecurity Email Compromise Law Enforcement Business Email Compromise 76

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.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

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

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

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 Small Business Scams 77

PYMNTS

OCTOBER 5, 2020

The financial institution (FI) has rolled out Fraud Protection Services, which is a new digital center with bolstered fraud protection offerings that assist small and mid-sized customers in safeguarding their companies and securely supervising money. The cost of information in those auctions ranges between $5,000 and in excess of $20 million.

Ransomware 54

Ransomware AFP Breach Payments 54

PYMNTS

DECEMBER 8, 2020

This security focus will be even more acute amid the holiday season. According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. According to a Charity Today report, one-third of U.K. According to a Charity Today report, one-third of U.K.

FBI 71

FBI Business Email Compromise Scams Mitigation 71

PYMNTS

SEPTEMBER 13, 2018

Not only are small and medium-sized businesses (SMBs) a prime target, but such an attack can be detrimental to a small company without the resources to combat a security threat. Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force.

Ransomware 58

Ransomware MSPS Disaster Recovery Cybersecurity 58

CB Insights

JULY 23, 2020

Beyond the office: cybersecurity and at-home network security. Biometrics — which measure a person’s physical characteristics, such as fingerprints or voice patterns — are often more secure than other authentication options, more convenient for customers, and more cost-effective for businesses. Bathrooms: autonomous cleaning solutions.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101