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. Top Four Current Scams.

B2B 116

B2B Phishing Scams Ransomware 116

PYMNTS

FEBRUARY 12, 2020

According to the 2019 edition of the FBI’s Internet Crime Report , last year was both a lucrative and diverse year for cybercriminals and scammers. All in, the FBI’s Internet Crime Complaint Center (IC3) received a total of 467,361 complaints, with reported losses exceeding $3.5

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

JANUARY 13, 2020

This week, however, a rundown of the latest B2B payment scams finds that it’s not only external bad actors, but entities’ own internal personnel that is often the cause of fraudulent activity. The scam reportedly lasted about five years, and the former bookkeeper has now been charged with felony theft.

B2B 89

B2B Wire Transfer Cybersecurity FBI 89

PYMNTS

JUNE 10, 2019

Business enterprise compromise (BEC) scams are crossing borders, where fraudsters in Africa are targeting U.S. As reported by Threatpost , earlier this month, researchers in London identified a cybersecurity gang that has evolved markedly in scale. The fraud evolved into romance scams a few years later, then BEC scams in 2015.

Business Email Compromise 51

Business Email Compromise Scams Romance Scams Counterfeit Check 51

PYMNTS

JULY 21, 2020

Credit card fraud is just one of many techniques that fraudsters leverage to scam FIs and their customers, but it is on the rise amid the pandemic. Fraudsters also frequently target mobile banking apps, and these types of attacks are also expected to be on the rise in the coming months, according to the FBI. billion pounds ($5.2

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

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. 75,000 is the average loss of a BEC scam , new data from the FBI has revealed. $75,000 is the average loss of a BEC scam , new data from the FBI has revealed.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

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. The BEC scam can manifest in many forms. It is so easy for attackers to pull off these kinds of scams,” he said.

Business Email Compromise 44

Business Email Compromise Security Scams Email Compromise 44

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

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. “We Two Major Attacks In One Week.

Governance 85

Governance Government 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 2013, resulting in $3.1

Cybersecurity 40

Cybersecurity Assessments Data Breach Breach 40

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

Clearly Payments

MARCH 4, 2024

Eventually, law enforcement agencies intervened, leading to the arrest and prosecution of numerous individuals involved in the scheme, highlighting the complexity and magnitude of modern phishing fraud and emphasizing the critical need for robust cybersecurity measures and user awareness to combat such criminal activities.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

MAY 12, 2017

businesses lose an estimated $50 billion each year due to identity fraud incidents. …………… Here are other top cybersecurity stories that made headlines this past week: One Million Gmail Users Affected By Google Docs Phishing Scam. percent of total users) were affected by an email phishing scam.

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

PYMNTS

FEBRUARY 13, 2020

million after it was the victim of an email phishing scam, according to the AP. Manuel Laboy, executive director of the agency, said the mishap was reported to the FBI as soon as it was discovered. Laboy did not share how the phishing scam was discovered, or if anyone was fired. The government of Puerto Rico lost $2.6

Phishing 52

Phishing Scams FBI Government 52

PYMNTS

AUGUST 14, 2018

The hack comes as the FBI in the U.S. is warning banks and merchants that cybercriminals are gearing up to launch a choreographed global scam, known as the “ATM cashout,” in which the bad guys hack a bank or payment card processor to make cloned cards that they can use to withdraw money from ATMs around the globe.

Debit Card 40

Debit Card FBI ATM Card Issuer 40

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

DECEMBER 4, 2018

The Financial Times , citing cyber threat detection company Agari, reported the group, which goes by the name London Blue, is focusing on the business email compromise scam. The Financial Times noted that in July the FBI warned hackers were targeting CFOs, getting them to transfer money to unknown accounts.

Law Enforcement 46

Law Enforcement Email Compromise FBI Scams 46

PYMNTS

MARCH 30, 2018

In cybersecurity news, that supposed tech support rep from the cryptocurrency exchange may, in fact, be a scammer, CoinDesk reported. The Federal Bureau of Investigation (FBI)’s Internet Crime Complaint Center (IC3) said that it had received nearly 11,000 complaints on tech support scams. Bram Cohen, who invented BitTorrent.

Bitcoin 49

Bitcoin Blocks Cryptocurrency Cross-Border Payments 49

PYMNTS

FEBRUARY 14, 2020

The Cost of Love: Broken hearts club: Consumers report losing more than $200 million to romance scams last year, as estimated by the FTC. B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise. That’s up 40 percent over 2018.

Cross-Border 52

Cross-Border Business Email Compromise Romance Scams FTC 52

PYMNTS

AUGUST 20, 2018

If the Federal Bureau of Investigation (FBI) is right, a whole other bad idea is about to be unleashed upon our collective bank accounts. According to a newly issued warning to banks , cybercriminals are gearing up to launch a choreographed global scam, known as the “ ATM cashout.”

FBI 40

FBI Zelle ATM Credit Cards 40

PYMNTS

FEBRUARY 3, 2017

Although the details have yet to be released, it’s believed that an employee’s computer was exposed to the ransomware through a phishing scam or by accidentally downloading it. The servers have now been locked up, and the FBI and Bureau of Criminal Investigation have been notified.

Governance 40

Governance Government Law Enforcement Ransomware 40

PYMNTS

AUGUST 20, 2018

And, if the Federal Bureau of Investigation (FBI) is right – a whole other bad new idea is about to be unleashed up our collective bank accounts. According to a newly issues warning to banks – cybercriminals are gearing up to launch a choreographed global scam, known as the “ATM cashout,”.

FBI 40

FBI Zelle Credit Cards ATM 40

PYMNTS

JANUARY 8, 2019

The FBI has reported a rise in gift card fraud over the past year, with business losses reaching over $1 million. In one such scam, fraudsters would impersonate a company executive and request gift cards for corporate use, asking that the card’s PIN be sent via email. About The Tracker.

Identity Theft 66

Identity Theft AI FBI Data Breach 66

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. The tactic is relatively simple.

Faster Payments 56

Faster Payments Business Email Compromise Treasury Real Time Payments 56

PYMNTS

DECEMBER 8, 2020

With the pandemic accelerating a surge in eCommerce volumes, online fraud threats are at their peak, and everything from chargeback fraud to online product scams are dampening the holiday spirit. According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam.

FBI 71

FBI Business Email Compromise Scams Mitigation 71

PYMNTS

APRIL 5, 2019

Stacy Arruda, a former special agent with the FBI and now executive director of the state of Florida ISAO on cybersecurity, said that part of the problem is that when it comes to protecting credit unions — and really any financial institution — danger lurks in what they don’t know. The Great Trade-Off. What to Do.

FBI 50

FBI Credit Union Credential Cybersecurity 50

PYMNTS

MARCH 18, 2019

Last September, the Federal Bureau of Investigation (FBI) issued a warning about cybercriminals’ tactic of targeting digital payroll accounts, using phishing scams to obtain employee credentials and redirect payroll deposits to their own accounts. “Education is the number-one way employers can protect their payroll data.”

Payroll 64

Payroll API Payment APIs and Integration Data Breach 64

PYMNTS

JULY 24, 2020

In order to do cybersecurity right, you can’t forget the boring stuff.”. Last week, the FBI launched an investigation into what turned out to be the worst security breach in Twitter’s 14-year history. The former workers, who are familiar with Twitter security practices, said that many people had access, including Cognizant Corp.,

Accounts 57

Accounts Breach FBI Cryptocurrency 57

CB Insights

JULY 23, 2020

To stay ahead of the curve, companies will need to consider key investments across wellness, remote collaboration tools, mobile cybersecurity tech, accessible HR tools, and workforce training programs for professional development and upskilling. Beyond the office: cybersecurity and at-home network security. TABLE OF CONTENTS.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101

PYMNTS

JULY 19, 2020

The FBI has launched an investigation. Treasury’s Financial Crimes Enforcement Network (FinCEN) warned financial institutions of a high-profile scam exploiting Twitter accounts to try to scam convertible virtual currency from account holders. As word of the hack spread on Thursday (July 16) , the U.S.

Accounts 79

Accounts Fincen FBI Scams 79