PYMNTS

JUNE 26, 2018

Cybersecurity is no longer an afterthought for today’s enterprise. Spend is still going up, too, as KPMG ‘s report found a 23 percent increase in the number of professionals prioritizing cybersecurity investments this year compared to last.

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

The Paypers

APRIL 24, 2020

Switzerland-based cybersecurity service provider GlobeX Data has announced that it is planning to launch a new service against BEC (Business Email Compromise) attacks.

Business Email Compromise 36

Business Email Compromise Email Compromise Scams Compromise 36

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

PYMNTS

JANUARY 13, 2020

Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports. The risk can also lead to fraudsters spoofing the email addresses of C-Suite executives to initiate payments to a fraudster’s account. According to local Kentucky Today reports, $1.5

B2B 89

B2B Wire Transfer Cybersecurity FBI 89

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. Leigh Reichel , new chief financial officer of cybersecurity firm INKY Technology Corp. Business Email Compromise.

B2B 116

B2B Phishing Scams Ransomware 116

PYMNTS

AUGUST 17, 2020

In this week’s Data Digest, PYMNTS rounds up the latest cases and research into how corporates are being targeted with crimes like the business email compromise (BEC) scam, as well as how they’re fighting back. The year-over-year cybersecurity budget increase amounts to an average spend of $2,691 per employee.

Business Email Compromise 94

Business Email Compromise Federal Trade Commission Scams Cybersecurity 94

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. That software was released earlier this year, between March and June. “We Two Major Attacks In One Week.

Government 85

Government Governance Security Cybersecurity 85

PYMNTS

JUNE 23, 2016

For some, like small suppliers, a compromise of sensitive data and credentials can lead to a few hundred or thousand dollars fraudulently obtained from a business client, often via the Business Email Compromise scam. Supplier email scams , the FBI said, are rising at massive rates. 2013, resulting in $3.1 ”

Cybersecurity 40

Cybersecurity Assessments Data Breach Breach 40

PYMNTS

AUGUST 10, 2018

“One is the online reputation, and the other is cybersecurity.” On the other side of this coin is the cybersecurity threats that inevitably come with establishing a digital presence of any kind. On the customer-facing side is the online reputation.

Cybersecurity 40

Cybersecurity Small Business Phishing Email Compromise 40

PYMNTS

DECEMBER 3, 2018

Data: 100 million: The amount stolen recently from nine public firms in recent business email compromise schemes. 90 percent: Share of professionals who name untrained staff as their firm’s biggest cybersecurity risk. 61 percent: Share of consumers polled by PYMNTS that made a Black Friday purchase.

Email Compromise 61

Email Compromise Cybersecurity Compromise Risk 61

The Paypers

APRIL 24, 2020

Switzerland-based cybersecurity service provider GlobeX Data has announced that it is planning to launch a new service against BEC (Business Email Compromise) attacks.

Business Email Compromise 28

Business Email Compromise Email Compromise Scams Compromise 28

PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. billion (or slightly over half) of all losses tracked in 2019.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

FEBRUARY 3, 2020

The majority of businesses are at risk for an array of cybersecurity incidents, including the business email compromise (BEC) scam, which often sees fraudsters spoofing legitimate email addresses from vendors, and sending seemingly real requests for payment. .

Scams 52

Scams B2B Email Compromise Business Email Compromise 52

PYMNTS

MAY 25, 2016

The Business Email Compromise is now a top concern for the enterprise and security providers alike, especially since regulators have released warnings against the crime. One startup wants to safeguard corporate email and has just received new venture capital to move forward with its efforts.

Email Compromise 40

Email Compromise Security Compromise Data Breach 40

PYMNTS

APRIL 7, 2020

The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement. That figure marks the second-highest percentage in the past 10 years.

Business Email Compromise 61

Business Email Compromise Email Compromise AFP Compromise 61

PYMNTS

NOVEMBER 7, 2017

The Business Email Compromise (BEC) scam is jeopardizing millions of dollars for businesses of all sizes and industries. As instances of the BEC scam continue to rise, a new challenge for companies could be on the horizon, too, as questions mount over whether such cyberattacks are covered by cybersecurity insurance.

Scams 40

Scams Email Compromise Rules Business Email Compromise 40

PYMNTS

DECEMBER 18, 2017

judge has sentenced a Nigerian man to three years and five months in prison for his role in a business email compromise scam. Reports said Adindu was arrested in 2016 and allegedly carried out business email compromise scams between 2014 and 2016.

Scams 41

Scams Email Compromise Compromise Wire Transfer 41

PYMNTS

DECEMBER 30, 2016

What cybersecurity threats will impact corporate buyers and suppliers in 2017? 2017 will see a continued rise in cybersecurity threats particularly around business email compromise , ransomware and malicious insiders. In addition, the battlefield is evolving.

Checks 58

Checks Email Compromise Security Compromise 58

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. Meanwhile, the Better Business Bureau said 80 percent of businesses received at least one kind of BEC scam email in 2018.

Business Email Compromise 44

Business Email Compromise Security Scams Email Compromise 44

PYMNTS

JULY 30, 2018

“By targeting popular brands, recipients are more likely to have a relationship with the company being impersonated,” said cybersecurity company MailGuard. A recent warning from the Federal Bureau of Investigation revealed that business email compromise (BEC) scams have now led to $12 billion in diverted funds.

Phishing 51

Phishing Scams Business Email Compromise Email Compromise 51

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.

Email Compromise 96

Email Compromise Compromise Business Email Compromise Phishing 96

PYMNTS

APRIL 30, 2018

While most agreed that the threat of fraud has increased, Strategic Treasurer found that treasurers and their teams are increasing investment in cybersecurity and anti-fraud measures, including security controls, cyber fraud insurance, transaction controls and cybersecurity technologies. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Treasury Ransomware Wires 59

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

PYMNTS

SEPTEMBER 21, 2019

As lawmakers ponder this risk, PYMNTS highlights some of the newest data points uncovered by researchers examining small business cybersecurity. 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.

Data Breach 80

Data Breach Breach Small Business Business Email Compromise 80

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. The company commissioned Spiceworks to survey 600 security and IT leaders about their biggest concerns and areas of focus in supply chain cybersecurity. million business email compromise scam.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

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. Indeed, the last week has seen the emergence of even more examples coming to light.

Business Email Compromise 91

Business Email Compromise Scams Crime Email Compromise 91

PYMNTS

APRIL 26, 2018

According to Barclays , much of this loss is linked to crimes like account takeovers and business email compromise scams, in which fraudsters target SMBs’ B2B transactions to steal funds. SMBs most often rely on staff education, software updates and password changes to enhance cybersecurity, MYOB found.

Cybersecurity 40

Cybersecurity Email Compromise Small Business Crime 40

PYMNTS

FEBRUARY 24, 2020

2,100 corporates were targeted in a widespread business email compromise (BEC) scam recently uncovered by cybersecurity company Agari , the firm revealed last week. More than half of surveyed treasurers also said they had been hit by attempted cyber fraud in the last 12 months.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

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.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Business Email Compromise scams continue to grow and steal more corporate money than ever before. Compare that to ransomware, which made up just 11 percent.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

JULY 20, 2018

Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on the rise. The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018.

Scams 43

Scams Business Email Compromise Email Compromise FBI 43

PYMNTS

AUGUST 3, 2016

According to the Federal Bureau of Investigation , cyberscams attacking businesses, known as the Business Email Compromise, has led to $3.1 The International Criminal Police Organization said it has arrested the alleged ringleader of an international business email scam based in Nigeria. On Tuesday (Aug.

Scams 42

Scams Email Compromise Compromise Wire Transfer 42

PYMNTS

AUGUST 30, 2017

Cybersecurity consulting firm Akouto Consulting has a warning for businesses: There has been an increase in instances of malware able to bypass traditional antivirus measures, threatening business bank accounts. It wasn’t until the small business owner updated cybersecurity measures that the attack was detected.

Email Compromise 49

Email Compromise Cybersecurity Small Business Consulting 49

PYMNTS

SEPTEMBER 14, 2020

Cybersecurity experts at Breach Clarity now peg the number of clients impacted at 136. And while enterprises and their employees still have much work to do to understand, prevent and address such incidents, the cybersecurity community itself can take added measures to safeguard corporates and individuals alike.

Breach 52

Breach Multifactor Authentication Ransomware Email Compromise 52

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.

B2B 80

B2B FinTech MSPS Email Compromise 80

PYMNTS

APRIL 4, 2019

The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads. Furthermore, traditional cybersecurity technology cannot always detect this kind of attack. New Attacks Emerge.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

MAY 1, 2017

Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam. 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.

Scams 47

Scams Business Email Compromise Email Compromise Identity Theft 47