PYMNTS

APRIL 3, 2018

Experts say an employee phishing scam is likely to blame for the data breach affecting millions of Saks Fifth Avenue and Lord & Taylor payment cards. Separate reports by the Associated Press also pointed to an email phishing scam as the likely culprit. The Canadian company noted it has commenced an investigation.

Phishing 51

Phishing Breach Data Breach Scams 51

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. As the threat of B2B payments fraud persists, PYMNTS looks at the data behind some of the other latest cases of such digital scams.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). It showed how the scam uses two new tools, Muraena and NecroBrowser, to potentially trick users into sharing their private credentials.

Scams 58

Scams Credential Security Phishing 58

PYMNTS

OCTOBER 9, 2020

The pandemic has sparked a digital shift of positive changes likely remain in place after the pandemic subsides, but it’s also spawned at least one unwanted thing: a range of new email attacks and scams. We have seen phishing attacks surge since the pandemic started,” Reichel said. Top Four Current Scams. Spear Phishing.

B2B 116

B2B Phishing Scams Ransomware 116

PYMNTS

JANUARY 27, 2020

The Business Email Compromise (BEC) continues to evolve. Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. Since last January, $987,000 has been lost to BEC scams demanding payment in the form of gift cards , new research out of Singapore has warned.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

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.

Scams 63

Scams Automation Phishing Email Compromise 63

PYMNTS

FEBRUARY 12, 2020

As for the scams themselves, those varied widely both in terms of tactics and targets. Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. And while the BEC is not the most common form scam, it is a lucrative one.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

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.

Phishing 67

Phishing Wire Transfer Email Compromise Business Email Compromise 67

FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

Compromise 98

Compromise Scams Debit Card Smishing 98

PYMNTS

DECEMBER 17, 2019

An unidentified group is reportedly putting much effort into a complicated scam to steal the login credentials of government personnel. The scam begins when a company gets a bogus invitation via email to place a bid on a government contract. Spoofed phishing site domains are hosted in Turkey and Romania.

Credential 40

Credential Scams Email Compromise Business Email Compromise 40

PYMNTS

MAY 1, 2017

Phishing attacks can happen to even the most vigilant among us. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam. Additionally, research from Trend Micro found $1 billion total losses worldwide in 2016 due to BEC scams.

Scams 47

Scams Business Email Compromise Email Compromise Identity Theft 47

Clearly Payments

MARCH 4, 2024

From the Target data breach that compromised millions of customer accounts to the collapse of Wirecard AG following revelations of accounting fraud, these fraud events serve as stark reminders of the vulnerabilities within payment systems. Over 40 million credit and debit card accounts compromised.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

Deepfake 100

Deepfake APACS Scams Authentication 100

PYMNTS

DECEMBER 7, 2018

The BBC reports that beloved JK Rowling – she of “Harry Potter” fame and fortune – has been at the center of a credit card scam. 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.

Scams 68

Scams Credit Cards Email Compromise Business Email Compromise 68

PYMNTS

FEBRUARY 3, 2017

A new email scam is making the rounds — this time, cybercriminals are impersonating parcel delivery companies in Australia. Unfortunately for both consumers and the businesses they trust, email phishing scams have become a go-to and very successful attack method for cybercriminals. It’s no wonder hackers just keep phishing.

Scams 41

Scams Phishing Compromise Ubiquitous 41

PYMNTS

JULY 24, 2020

In a post on its website, Instacart said its investigation concluded the San Francisco-based company was not compromised. It appears that third-party bad actors were able to use usernames and passwords that were compromised in previous data breaches of other websites and apps to login to some Instacart accounts,” Instacart wrote. “In

Accounts 75

Accounts Compromise Data Breach Phishing 75

PYMNTS

JULY 24, 2020

Outside of the Instacart platform, attackers may target individuals using phishing or credential stuffing techniques. “We take data protection and privacy very seriously.

Data Breach 86

Data Breach Breach Phishing Duplicate 86

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions. federal judge ruled in a case against a former executive.

Business Email Compromise 91

Business Email Compromise Scams Crime Email Compromise 91

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). Analysis of BEC complaints filed in 2019 found that BEC scams accounted for nearly half of the $3.5 Tax season is upon U.S.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

JULY 15, 2020

Gemini Co-Founder Cameron Winklevoss tweeted out an explanation: “ALL MAJOR CRYPTO TWITTER ACCOUNTS HAVE BEEN COMPROMISED,” CNBC reported. At Seattle Children’s Hospital, the amount of attacks doubled, involving phishing emails with malicious links allowing hacking to occur.

Accounts 56

Accounts Scams Phishing Bitcoin 56

PYMNTS

MARCH 23, 2020

Corporates and government officials have recently been sounding the alarm about coronavirus-related scams, and according to experts , the threat is likely to rise. Even in times of global crisis, fraudsters will always look for ways to exploit unsuspecting targets.

Email Compromise 71

Email Compromise Payroll FBI Compromise 71

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? The phishing campaign targets consumers and also commercial users. The phishing campaign targets consumers and also commercial users. The apps have, cumulatively over 1.5 billion users.

Phishing 72

Phishing Credential Scams Payments 72

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. Information on phishing email or BEC scam campaigns, for instance, can be shared to help small businesses protect themselves before an attack occurs. Stronger passwords.

Data Breach 80

Data Breach Breach Small Business Business Email Compromise 80

PYMNTS

JANUARY 20, 2017

In this week’s Hacker Tracker , Radware shares its global cybersecurity research on what’s really motivating cybercriminals, a Gmail phishing attack targets savvy users and the U.S.’s In many cases, experienced or tech savvy users can spot a phishing email scam from a mile away. Money On The (Cybercriminal) Brain.

Phishing 45

Phishing Ransomware EMV CHIPS 45

PYMNTS

JUNE 8, 2020

FIs may need to provide data to FinTech startups without dedicated cybersecurity teams, for example, which could then be more easily compromised by hackers who will steal sensitive bank customer data. percent “less likely to be compromised.”. Fighting Phishing.

Authentication 60

Authentication MFA Phishing Scams 60

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.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

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

Stax

MARCH 4, 2024

Identifying and Mitigating Payment Security Threats Phishing scams, social engineering, bot attacks—these are just a few of the most pressing cybersecurity threats that can be so devastating they have real-time effects. Finally, train employees on security best practices and how to recognize phishing attempts and other frauds.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

PYMNTS

MAY 19, 2020

The compromised server contained website and mobile site API logs, thereby exposing all production server information. The risk of phishing and phone scams is also raised by the Natura data leak,” Sen said, according to the report. users who integrated it with their Natura accounts, the report said.

Identity Theft 93

Identity Theft Payment APIs and Integration Payment-Related Information Phishing 93

The Fintech Times

JUNE 20, 2024

From ransomware attacks and phishing schemes, to account takeovers and distributed denial of service (DDoS) attacks, all these threats can result in serious operational disruptions and loss of customer trust, incurring costly remediation. However, data breaches constitute only one facet of the risks confronting firms.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

OCTOBER 7, 2020

However, in the past month alone, PYMNTS Bitcoin Daily has reported on nearly a dozen different scams and schemes involving bitcoin or other cybercurrencies. The Pandemic Is Making Scams Worse . For example, the U.S. Commodity Futures Trading Commission recently filed a complaint in a Texas U.S.

Bitcoin 93

Bitcoin Consumer Scams Cryptocurrency 93

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. ProofPoint’s report does not underestimate the strength of ransomware attacks via phishing.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

DECEMBER 14, 2020

The attacker’s post-compromise activity leverages multiple techniques to evade detection and obscure their activity, but these efforts also offer some opportunities for detection,” FireEye said, adding that the campaign was widespread and “affecting public and private organizations around the world.”.

Governance 85

Governance Government Security Cybersecurity 85

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. It also opens the door to more cross-border scams, as it only costs a little bit of money to set up a temporary U.S. phone number.

Business Email Compromise 45

Business Email Compromise Scams Email Compromise Cross-Border 45

Seon

JUNE 27, 2024

As AI-driven progress continues to surge, questions arise about maintaining its progress over the long term without compromising security. How can the technology driving novel and increasingly sophisticated fraud activities be harnessed to combat scams and cyber risks cost-efficient and effectively?

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

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.

Romance Scams 56

Romance Scams Email Compromise Business Email Compromise Phishing 56

Nanonets

NOVEMBER 14, 2023

Business Email Compromise (BEC) is a cyber threat that exploits the vulnerabilities of email communication. Perpetrators impersonate trusted entities, such as executives or vendors, employing social engineering techniques to coerce employees into compromising actions. What is Business Email Compromise (BEC)?

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52