PYMNTS

NOVEMBER 18, 2019

Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk of payments fraud — and governments are taking steps to react accordingly. Hassold provided a public comment on the vendor email compromise scam. Meanwhile, in the U.K.,

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Business Email Compromise Scams Email Compromise Compromise 51

PYMNTS

OCTOBER 15, 2018

Frosh issued a warning to the state’s small business (SMB) owners last week, he shed light on the fact that, despite business owners’ rising focus on cyberattacks, some scammers continue to use legacy tactics to target their victims. AG Frosh’s warning pertained to a specific small-business cybersecurity threat.

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Ransomware Online and Mobile Banking Small Business Scams 77

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.

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Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

SEPTEMBER 14, 2017

Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. Here’s the problem: The professional who falls victim to eInvoice scams like the business email compromise is, more often than not, a C-Suite executive. Additional Attacks Putting the Enterprise at Risk.

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PYMNTS

JANUARY 18, 2019

Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

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Business Email Compromise Scams Audit Payroll 69

PYMNTS

JULY 20, 2016

The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and invoices requesting firms to wire funds. According to reports, funds wired are rarely recovered. billion from unsuspecting companies.

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PYMNTS

APRIL 30, 2018

Jeffery said he is “pretty happy” with the finding that treasurers are investing in security, and that many will continue to do so in the coming two to three years, particularly as they implement new systems and tools, like faster payments , that demand a more sophisticated approach to security.

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PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Most businesses and accountants still rely on antiquated, paper-based methods to manage some stages of their process,” he said in an emailed interview with PYMNTS, pointing to the continuing popularity of checks and wire.

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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

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Business identities can be used to open card accounts, initiate wire transfers or commit tax fraud. million, in 2016 alone. with more than 16,800 victims recorded in 2016. . What to Do About It.

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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. It’s all in the name of siphoning company cash from accounts payable operations, and experts say the threat will continue to increase.

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Business Email Compromise Security Scams Email Compromise 44

PYMNTS

APRIL 14, 2017

The huge increase last year was so big that I didn’t think it would continue this way. To get to the bottom of this troubling data, AFP Manager, Treasury & Payments Magnus Carlsson discussed the findings with PYMNTS. “We We saw even more payments fraud this year than last year, and that by itself, to me, is a surprise,” Carlsson said.

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