Cybersecurity, Email Compromise and Wire Transfer

FBI, BBB Sound Another Business Email Compromise Alarm

PYMNTS

SEPTEMBER 30, 2019

companies via the Business Email Compromise scam, reports in The East African said last week. Through Operation reWired, we are sending a clear message to the criminals who orchestrate these Business Email Compromise schemes that ‘I will keep coming after you, no matter where you are.’”.

Email Compromise

Email Compromise FBI Compromise Business Email Compromise

The B2B Payments Fraud Threat Of Internal Employees

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

B2B Wire Transfer Cybersecurity FBI

BEC Scam Takes $15M In Widespread Attack

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 attacker used Office 365 because of the reduced suspicion and to avoid malicious detection systems, according to the post.

Business Email Compromise

Business Email Compromise Scams Email Compromise Wire Transfer

Webinars

From Start to Scale: Driving Growth Through Seamless Payments Implementation

The Evolving Retailer's Fulfillment Strategy: Meeting Demands with Agility

MORE WEBINARS

Corporates Brace For BEC Scam Ramp-Up

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. cybersecurity technology companies are taking measures to raise awareness and combat corporate payment fraud risks.

Business Email Compromise

Business Email Compromise Scams Email Compromise Compromise

Paper Checks, Email Fraud Top Enterprise Security Threats

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

Checks Email Compromise Security Compromise

From The Phone To Email: How Scammers Hit SMBs

PYMNTS

OCTOBER 15, 2018

AG Frosh’s warning pertained to a specific small-business cybersecurity threat. It’s a twist on the business email compromise (BEC) scam that typically involves scammers emailing business owners and seeking payment via wire transfer, ACH or paper check. “This is a scam, pure and simple.

Ransomware

Ransomware Online and Mobile Banking Small Business Scams

Treasurers Overconfident On Cyber Defenses

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

Email Compromise Treasury Ransomware Wire

US Judge Sentences Man For $25M Supplier Invoice Scam

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. The sentence follows charges by the U.S.

Scams

Scams Email Compromise Compromise Wire Transfer

Organizations' Fraud Threats Rise This Holiday Season

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. According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam.

FBI

FBI Business Email Compromise Scams Mitigation

Surprise: The C-Suite Falls For Invoice Scams The Most

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

Scams Email Compromise Business Email Compromise Compromise

FBI Pinpoints ‘Ground Zero’ For Supplier Email Scams

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.

FBI

FBI Scams Email Compromise Wire

When Email Becomes SMBs’ Biggest Security Threat

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

Business Email Compromise Security Scams Email Compromise

Business Email Scams’ Latest Target: Art Galleries

PYMNTS

NOVEMBER 6, 2017

Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime. Reports in The Art Newspaper say BEC scammers seem to have a new favorite target this time: art galleries. Attackers are doing the same when galleries make payments to artists, reports added.

Scams

Scams Business Email Compromise Email Compromise Wire Transfer

Businesses Can Have Their Identities Stolen, Too, Experts Warn

PYMNTS

JUNE 14, 2018

A new report from The National Cybersecurity Society (NCSS) published this week warns that business identity theft is an emerging threat for entrepreneurs and executives. Business identities can be used to open card accounts, initiate wire transfers or commit tax fraud. with more than 16,800 victims recorded in 2016.

Identity Theft

Identity Theft Wire Transfer Crime Email Compromise

Faster Payments, Open Banking Should Keep Treasurers On High Alert

PYMNTS

JANUARY 9, 2019

While financial services (FinServ) innovations often emerge with built-in security measures, new market trends — including faster payments and open banking — are introducing new security threats to corporate treasury departments, according to cybersecurity company BioCatch.

Faster Payments

Faster Payments Business Email Compromise Treasury Real Time Payments

INTERPOL Makes Arrest In $60M Business Email Scam Ring

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. China and Europe.

Scams

Scams Email Compromise Compromise Wire Transfer

Payments Space

FBI, BBB Sound Another Business Email Compromise Alarm

The B2B Payments Fraud Threat Of Internal Employees

BEC Scam Takes $15M In Widespread Attack

Webinars

Corporates Brace For BEC Scam Ramp-Up

Paper Checks, Email Fraud Top Enterprise Security Threats

From The Phone To Email: How Scammers Hit SMBs

Treasurers Overconfident On Cyber Defenses

US Judge Sentences Man For $25M Supplier Invoice Scam

Organizations' Fraud Threats Rise This Holiday Season

Surprise: The C-Suite Falls For Invoice Scams The Most

FBI Pinpoints ‘Ground Zero’ For Supplier Email Scams

When Email Becomes SMBs’ Biggest Security Threat

Business Email Scams’ Latest Target: Art Galleries

Businesses Can Have Their Identities Stolen, Too, Experts Warn

Faster Payments, Open Banking Should Keep Treasurers On High Alert

INTERPOL Makes Arrest In $60M Business Email Scam Ring

Stay Connected