Fintech Finance

OCTOBER 24, 2024

Government impersonation scams: Consumers are falling victim to scams where fraudsters pose as representatives from the government, including agencies like the USPS, the FBI and the IRS. While many of the scams highlighted in the report target consumers, the research contains key takeaways for financial institutions and merchants as well.

Scams 88

Scams Ransomware Government Governance 88

PYMNTS

SEPTEMBER 11, 2019

But that message is apparently lost on criminals, who, according to a new report, have stolen some $26 billion over the last three years in a scam generally known as “ business email compromise.”. This is not the first time the FBI has sounded a warning about business email compromise. Federal Bureau of Investigation.

Scams 65

Scams Email Compromise Compromise Wire 65

PYMNTS

OCTOBER 7, 2019

An FBI inquiry into the allegations is centered upon claims of fraudulent spend within SEPTA and misuse of the authority’s procurement cards — a common source of internal fraud for both private and public entities. “VEC is the next evolution of business email compromise. . A New Twist On the BEC Scam.

Scams 62

Scams Email Compromise B2B Business Email Compromise 62

PYMNTS

DECEMBER 8, 2020

According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. According to the FBI, professionals must be "wary" of online job postings that cater to the remote worker, with many of these posts having fraudulent intentions. Finding The Culprit.

FBI 71

FBI Business Email Compromise Scams Mitigation 71

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). According to the latest research from Bottomline Technologies, businesses said the fraud threat is on the rise.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

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.

Government 85

Government Governance Security Cybersecurity 85

PYMNTS

OCTOBER 23, 2017

According to a news report in Reuters , in a rare move, the Department of Homeland Security and the Federal Bureau of Investigation (FBI) warned that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. The FBI declined to comment.

Security 41

Security FBI Cybersecurity Consumer 41

PYMNTS

JUNE 26, 2017

Currently the malware has caught the FBI’s attention. SAMSAM) was used to compromise the networks of multiple U.S. victims, including 2016 attacks on healthcare facilities that were running outdated versions of the JBoss content management application,” the FBI says. MSIL or Samas.A

Ransomware 43

Ransomware FBI Bitcoin On-Demand 43

PYMNTS

JANUARY 21, 2021

Particularly stunning this year was the volume of business email compromise (BEC) attacks, which, according to the FBI, is already a $2 billion-a-year business. Businesses also increasingly found themselves the target of highly sophisticated fraud schemes. That’s a recipe for negative reviews and frustrated feedback on social media.

Email Compromise 72

Email Compromise Business Email Compromise FBI Fraud Prevention 72

PYMNTS

APRIL 13, 2016

New research from Symantec estimates that over half a billion identities were stolen or exposed online last year, along with even more companies not reporting to true extent of data loss during security breaches. Just last month, the FBI issued a serious warning that the ransomware problem is likely to get much work before it gets better.

Ransomware 43

Ransomware Data Breach FBI Breach 43

PYMNTS

OCTOBER 14, 2016

The new group, called Odinaff, is believed to be compromised of 10–20 organizations armed with malware that can hide fraudulent transfer requests in the SWIFT system. The emergence of new possible instances of compromise is not entirely surprising given that banks should now be undertaking rigorous reviews of their environments.

SWIFT 75

SWIFT Compromise Cybersecurity Data Breach 75

PYMNTS

JANUARY 18, 2019

As reported late this week in Dark Reading , and as estimated by security research firm Agari , efforts are “ramping up” wherein criminals look to “divert payrolls” of senior executives. A pair of studies have shown that companies are increasingly being targeted through methods both sophisticated and decidedly mundane.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

MARCH 22, 2016

In fact, in 2015, the FBI received roughly 2,453 complaints related to ransomware malware attacks, which amounted to $24.1 Definitely a growing threat,” FBI Special Agent Chris Stangl told The Washington Post. And it also compromises another key factor: data security. million in losses for victims.

Ransomware 0

Ransomware Bitcoin Law Enforcement FBI 0

PYMNTS

DECEMBER 4, 2018

The Financial Times , citing cyber threat detection company Agari, reported the group, which goes by the name London Blue, is focusing on the business email compromise scam. The Financial Times noted that in July the FBI warned hackers were targeting CFOs, getting them to transfer money to unknown accounts. or the U.S.

Law Enforcement 46

Law Enforcement Email Compromise FBI Scams 46

PYMNTS

AUGUST 20, 2018

If the Federal Bureau of Investigation (FBI) is right, a whole other bad idea is about to be unleashed upon our collective bank accounts. Krebs on Security cited a confidential alert that the FBI sent to banks late last week, saying that millions of dollars can be stolen in only a few hours.

FBI 40

FBI Zelle ATM Credit Cards 40

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. As previously highlighted by the FBI , Business Email Compromise scams are on the rise, and businesses saw a 26 percent increase in fraudulent emails during Q2 compared to Q1 — and that’s a whopping 87 percent increase compared to Q2 2017.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

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

Business Email Compromise 51

Business Email Compromise Scams Romance Scams Counterfeit Check 51

PYMNTS

AUGUST 20, 2018

And, if the Federal Bureau of Investigation (FBI) is right – a whole other bad new idea is about to be unleashed up our collective bank accounts. According to a Krebs on Security report, citing a confidential alert the FBI sent to banks late last week, millions of dollars can be stolen in only a few hours.

FBI 40

FBI Zelle Credit Cards ATM 40

PYMNTS

MAY 16, 2016

The search for the Bangladesh cyberheist fraudsters has taken an interesting turn with new research indicating the involvement of the same hackers behind the 2014 hack on Sony Pictures. to develop the malware and similar spelling error patterns were other findings that led researchers to the conclusion, as ZDNet pointed out.

SWIFT 40

SWIFT FBI Research Compromise 40

PYMNTS

MAY 12, 2017

Research from eSentire recently found that “rudimentary” cyberattacks on SMEs — including intrusion attempts, policy violations, and information gathering — are some of the most dangerous. FBI Sees Wire Fraud Via Email Grow In 2016. FBI Sees Wire Fraud Via Email Grow In 2016. billion across organizations.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer.

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

DECEMBER 9, 2016

Filip Chytrý , threat intelligence researcher at Avast Software , defines Crimeware-as-a-Service as an automation of malicious cyberattacks — rather than hackers compromising vulnerable systems themselves, they can instead pay for already established botnets and other online interfaces to seek out and exploit vulnerabilities.

Monetary Loss 90

Monetary Loss Money Laundering FBI Phishing 90

PYMNTS

JUNE 26, 2018

Take, for instance, the Business Email Compromise, a scam that is attributed to an estimated $5.3 billion in stolen corporate funds in 2016, according to the Federal Bureau of Investigation (FBI). Employee negligence is the main cause for data breaches at the companies surveyed, researchers noted.

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

PYMNTS

SEPTEMBER 17, 2018

Per Nathan Shields, special agent with the FBI , the details of the conspiracy and the hack(s) come from multiple sources, spanning activities such as analyzing compromised victim systems and executing approximately 100 search warrants across 1,000 email and social media accounts.

SWIFT 75

SWIFT Phishing Ransomware Central Bank 75

PYMNTS

JUNE 20, 2016

Examine the latest research to grasp just how cumbersome modern cash management can be. $3 The business email compromise has created more than 22,000 cases in the U.S. and elsewhere, the FBI found, leading to requests for $3.1 Business email compromises are also on the rise in the U.K., billion in losses hit U.K.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

PYMNTS

OCTOBER 27, 2017

This week saw warnings from both the Department of Homeland Security and the Federal Bureau of Investigation (FBI) that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. The FBI declined to comment. Cyberattacks targeting U.S.

AI 46

AI Account Takeovers Payment APIs and Integration FBI 46

PYMNTS

FEBRUARY 10, 2020

The indictment unsealed Monday spans nine counts, and charges the suspects in connection with their activities with the army’s 54th Research Institute, which operates as part of the Chinese military. and Canada were also compromised. Monday (Feb. The indicted were identified as Wang Qian, Wu Zhiyong, Xu Ke and Liu Lei.

Compromise 53

Compromise FBI Cybersecurity Social Security 53

CB Insights

JULY 23, 2020

While some studies suggest that low doses of certain forms of UVC light, such as far-UVC, are safe for humans, more research is needed to understand the efficacy of light purification technology for sanitizing. ” Instances of intrusion were so frequent that the FBI issued a warning about the phenomenon. Source: NPR via Twitter.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101

PYMNTS

MAY 15, 2017

A year later, she landed at University of Chicago to do research under the tutelage of one of the most famous pharmacologists of that time, who also thought he was hiring a man named Frances. In May of 2016, the FBI reported that ransomware would top $1 billion that year — they estimated $1.6 It’s a game with a pretty big payoff.

Bitcoin 62

Bitcoin Ransomware Multi-Currency Regulations 62

PYMNTS

OCTOBER 21, 2016

According to researcher and developer Willem de Groot, the online storefront for the National Republican Senatorial Committee (NRSC) was one of nearly 5,900 eCommerce sites compromised by malicious skimming software. 4 post revealing the NRSC compromise. The culprits are hiding behind a shell company in Belize.

Law Enforcement 67

Law Enforcement Ransomware Credit Cards Compromise 67