PYMNTS

JANUARY 13, 2020

That means the vast majority of businesses are at risk for an array of cybersecurity incidents, including the Business Email Compromise (BEC), which often sees fraudsters spoofing legitimate email addresses from vendors, and sending seemingly real requests for payment. According to local Kentucky Today reports, $1.5

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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. A new notice from the FBI continues its crackdown of the scheme and pinpoints what reports call “ground zero” for the scam.

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PYMNTS

JUNE 23, 2016

It’s no surprise, then, that the cybersecurity market, already worth billions, is slated to hit a $170 billion market value by 2020, according to Forbes. Often, cybersecurity measures involve an intensive process by a third-party provider, which visits a company and scrutinizes the entity to assess its risk. ”

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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. According to the FBI, more than $26 billion in losses linked to BEC were reported between July 2016 and September 2019.

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Business Email Compromise Security Scams Email Compromise 44

PYMNTS

MARCH 22, 2016

This case has also involved the FBI, as that $101 million was stolen from the central bank’s account with the New York Federal Reserve, which was eventually funneled into accounts in the Philippines and Sri Lanka. As a result, the Philippines’ Department of Justice has filed money laundering complaints against the individuals.

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