PYMNTS

FEBRUARY 20, 2019

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. ” In addition to Mastercard, the Global Cyber Alliance is working with a range of other businesses to create the toolkit, including the Cyber Readiness Institute and the Center for Internet Security (CIS). .”

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

NOVEMBER 21, 2019

KPMG is rolling out a new payments security solution targeting B2B payments fraud, the company said Thursday (Nov. A press release said KPMG is collaborating with cybersecurity provider nsKnox to roll out its KPMG Secure Payments tool, distributed and serviced by KPMG Israel.

B2B 44

B2B Security Cybersecurity Email Compromise 44

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

DECEMBER 30, 2016

Still, researchers have found, many businesses do just that: RedSeal released a report this month that described the state of corporates’ approach to enterprise security as one of “cyber naïveté,” with many executives believing that their existing strategies are sufficient to ward off a cyberattack.

Checks 58

Checks Email Compromise Security Compromise 58

PYMNTS

SEPTEMBER 10, 2019

9) that Toyota Boshoku Corporation, one of Toyota’s car parts suppliers, lost more than $37 million to a Business Email Compromise scam, in which a cybercriminal directed a professional within the company to pay a fraudulent vendor invoice. “A Cybersecurity company Agari recently released data that estimates $13.5

Email Compromise 46

Email Compromise Compromise Cybersecurity Scams 46

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. The tactic relies on employee ignorance, not on system weaknesses, to find success.

Cybersecurity 43

Cybersecurity Data Breach Breach Email Compromise 43

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

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

JANUARY 13, 2020

Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports. The case coincided with another cybersecurity incident at a Colorado water supplier, in which fraudsters infiltrated the utility platform of Aurora Water to steal customer information.

B2B 89

B2B Wire Transfer Cybersecurity FBI 89

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

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. Instead, it targets a much weaker link: the employee who is using it.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

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. Earlier this month, FICO revealed plans to roll out a new kind of score: the Enterprise Security Score.

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 40

PYMNTS

NOVEMBER 7, 2017

With the cybersecurity threat constantly looming and, in many instances, growing for corporations, a new report from Kaspersky Lab suggests businesses shouldn’t necessarily rely on their IT departments to safeguard their firms. One reason is because of a talent shortage of IT security experts.

Addressing 43

Addressing Security Cybersecurity Email Compromise 43

PYMNTS

MARCH 28, 2018

The saga, along with mounting concerns over “ fake news ,” are, in many ways, pushing corporate cybersecurity in a new direction, says Kevin Lee, the trust and safety architect at cybersecurity firm Sift Science. Compromise Security For Customer Experience. Sometimes that comes as a tradeoff with security.”.

Security 44

Security Data Breach Account Takeovers Breach 44

PYMNTS

NOVEMBER 6, 2017

Since 2004, October has been observed as National Cyber Security Awareness Month by the Department of Homeland Security (DHS). Cybersecurity, of course, is top of mind for many businesses and individuals year round, but the events leading up to this year’s DHS campaign were more extraordinary than usual.

FS-ISAC 47

FS-ISAC Cybersecurity Account Takeovers NACHA 47

PYMNTS

JULY 16, 2019

This week’s news of a security flaw in the Android versions of WhatsApp and Telegram, first revealed by Symantec, marked the latest cybersecurity warning for users of high-profile technologies. However, revelations of the security flaw shed light on the evolving face of invoice fraud.

Security 40

Security Payment APIs and Integration Small Business Email Compromise 40

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

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. Paying closer attention to suspicious emails. Department of Homeland Security. Stronger passwords. Using public wi-fi with caution and safeguarding mobile apps.

Data Breach 80

Data Breach Breach Small Business Business Email Compromise 80

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. The nearly $1 million bill was paid before it was found to be a fraudulent bill sent via a spoofed email address.

Business Email Compromise 91

Business Email Compromise Scams Crime Email Compromise 91

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. The scams are also going for bigger dollar amounts overall, according to data from Abnormal Security, and the number of businesses reporting the fraud increased 36 percent.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

PYMNTS

MAY 2, 2019

Organizations are ramping up cybersecurity investments in response to the ever-climbing threat of data breaches and cyberattacks. But all the money in the world to secure an organization’s back office won’t necessarily help safeguard all company data. million business email compromise scam.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

SEPTEMBER 14, 2020

The fallout continues to grow, with reports noting its slew of nonprofit and corporate customers have now been exposed to security threats as a result of data stolen in the Blackbaud breach. Cybersecurity experts at Breach Clarity now peg the number of clients impacted at 136. Blackbaud's data breach isn't unique, per se.

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Breach Multifactor Authentication Ransomware Email Compromise 52

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

JULY 30, 2018

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. The Advocate also noted that a way to avoid falling victim to the scam is to verify the URL. That’s an instant foot in the door.”.

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Phishing Scams Business Email Compromise Email Compromise 51

PYMNTS

JULY 24, 2018

Google has claimed a success in its fight against employee phishing scams , telling reporters that none of its more than 85,000 employees have fallen victim to such a scam since the company deployed its Security Keys program. “Users might be asked to authenticate using their Security Key for many different apps/reasons. .

Phishing 40

Phishing Security Scams Email Compromise 40

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

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. However, in addition to new computers, they have created new email domains, suggesting they will not give in to the attackers’ demands.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

APRIL 9, 2018

The incident, and similar breaches, reveal the limitations of cybersecurity, even as corporates worldwide continue to increase their investments in the latest-and-greatest security technologies. last December pegged global spending on cybersecurity by corporates will hit $96.3 Estimates from Gartner, Inc.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

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

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

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. “No

Ransomware 58

Ransomware MSPS Disaster Recovery Cybersecurity 58

PYMNTS

DECEMBER 8, 2020

As NETSCOUT Area Vice President of Engineering, Threat and Mitigation Products Hardik Modi told PYMNTS, cybersecurity is now top of mind for many of these firms. This security focus will be even more acute amid the holiday season.

FBI 71

FBI Business Email Compromise Scams Mitigation 71

PYMNTS

OCTOBER 26, 2018

BEC, the acronym for business email compromise scams, is getting its share of attention. Amid reports this week that changes to accounting standards are coming over the next few weeks, the Securities and Exchange Commission (SEC) has said that financial professionals, including accountants, must be mindful of cybersecurity risks.

Business Email Compromise 49

Business Email Compromise Scams Cybersecurity FBI 49

PYMNTS

AUGUST 24, 2020

The business email compromise (BEC) scam continues to rear its ugly head at the enterprise, with the global pandemic creating even more avenues through which cyber attackers can steal company money. The Pandemic's Security Impact. How To Retain Security. At the heart of BEC and other scams is impersonation.

Deepfake 61

Deepfake Business Email Compromise Scams Multifactor Authentication 61

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

DECEMBER 2, 2019

As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are urging business owners and executives to take the lead in combatting fraudsters.

Business Email Compromise 70

Business Email Compromise Scams Email Compromise B2B 70

PYMNTS

APRIL 29, 2019

Securities and Exchange Commission has appointed members to its newly-formed Small Business Capital Formation Advisory Committee as it works to support small business access to capital. Last October the SEC released a report that that urged public companies to focus on cybersecurity and accounting controls to combat the threat of the scam.

Small Business 43

Small Business Email Compromise Laws Scams 43