PYMNTS

OCTOBER 9, 2020

told PYMNTS that the FBI has found email fraud already costs businesses and individuals $3.5 We have seen phishing attacks surge since the pandemic started,” Reichel said. Phishing scams continue to proliferate in the number of attacks and dollar value of losses.”. Spear Phishing. Business Email Compromise.

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B2B Phishing Scams Ransomware 116

PYMNTS

AUGUST 24, 2020

This week's B2B Data Digest looks at the rising threat of the business email compromise (BEC) scam and invoice fraud on companies of all sizes in the U.S., Reports said the fraudsters have stolen more than 800 sets of credentials in an attempt to commit B2B payment fraud via spear-phishing attacks. Canada and the world over.

Scams 119

Scams Business Email Compromise Ransomware Email Compromise 119

PYMNTS

MARCH 23, 2020

Officials are warning of a rise in phishing attacks, while retailers have also been warned about fraud risks, with Amazon recently removing 1 million products for allegedly making fraudulent claims, recent Forbes reports said. “This is an opportunity to conduct pretty robust cyber-espionage, if not cyber-hostage taking.

Email Compromise 71

Email Compromise Payroll FBI Compromise 71

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

FEBRUARY 24, 2020

In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). The scam involved an email claiming a new bank account connected to remittance payments. Tax season is upon U.S.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

DECEMBER 17, 2019

Spoofed phishing site domains are hosted in Turkey and Romania. In separate news, researchers at Agari were warning of Silent Starling, the newest cybercriminal ring using a vendor email compromise (VEC) scam to purloin company cash from supply chains per news in October. The campaign is currently dormant.” .

Credential 40

Credential Scams Email Compromise Business Email Compromise 40

PYMNTS

SEPTEMBER 21, 2019

Information on phishing email or BEC scam campaigns, for instance, can be shared to help small businesses protect themselves before an attack occurs. 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 1, 2017

Phishing attacks can happen to even the most vigilant among us. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam. It doesn’t matter where or who you are. At the end of March , the U.S. In a statement, Google confirmed that it had been a target.

Scams 47

Scams Business Email Compromise Email Compromise Identity Theft 47

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. ProofPoint’s report does not underestimate the strength of ransomware attacks via phishing.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

APRIL 4, 2019

Meanwhile, instances of the Business Email Compromise (BEC) are also on the rise: About 47 percent of all incidents examined last year were the result of a hack or malware — and, of those, about half were BEC scams. Through the spear phishing campaign, an unwilling employee inputs those credentials for the criminal.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 8, 2020

80,000 is now the average amount phishers demand from their business email compromise targets , according to new research from the Anti-Phishing Working Group (APWG) in its second-quarter 2020 Phishing Activity Trends Report. million per targeted attack.

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise.

Scams 63

Scams Automation Phishing Email Compromise 63

Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. Let’s look at what business email compromise attacks are and explore some of the many ways you can combat them. What Is a Business Email Compromise Attack? Reported losses in 2020 exceeded $4.2

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

JULY 1, 2019

As noted in a report by FireEye, the bad guys are continuing to leverage a tactic known as business email compromise (BEC), where that method of communication seeks to impersonate persons of authority from within a firm, or alternatively, legitimate business partners, to requests funds be sent to accounts (and then of course, pilfered).

Business Email Compromise 61

Business Email Compromise Phishing Email Compromise Credential 61

PYMNTS

FEBRUARY 20, 2020

In other corporate fraud news , phishing defense firm Agari has concluded an investigation on one of the largest fraud perpetrators in a long time: Exaggerated Lion. If a CFO had accounting experience, though, as opposed to banking or finance, they were more likely to blow the whistle, the study found.

Romance Scams 56

Romance Scams Email Compromise Business Email Compromise Phishing 56

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions.

Business Email Compromise 91

Business Email Compromise Scams Crime Email Compromise 91

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

SEPTEMBER 23, 2020

The Financial Crimes Enforcement Network (FinCEN) recently issued a warning that malware, phishing schemes, extortion and business email compromise are in fact all on the rise.

Identity Theft 83

Identity Theft Financial Crimes Technology Crime 83

PYMNTS

SEPTEMBER 28, 2020

The Financial Crimes Enforcement Network (FinCEN) recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams, all with a COVID-19 twist.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

DECEMBER 14, 2020

Security experts have advised individuals to be extra vigilant during the busy holiday shopping season, and also warned corporate users working remotely to be aware of a rise in business email compromise (BEC) scams that target players in the COVID-19 vaccine supply chain.

Government 85

Government Governance Security Cybersecurity 85

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

FEBRUARY 15, 2019

To that end, phishing attacks, more commonly known as business email compromises (BECs), have been aimed at Bank Secrecy Act (BSA) officials at credit unions. Krebs on Security noted that the emails sent to officials at the United States credit unions looked like they were being sent by other BSA officials.

BSA 49

BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

PYMNTS

JANUARY 27, 2020

The Business Email Compromise (BEC) continues to evolve. Targets are instructed to submit cards’ redemption codes over email. million, thanks to a phishing scam. Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

PYMNTS

OCTOBER 17, 2018

The SEC’s investigations focused on “business email compromises” (BECs), where criminals posed as company executives or vendors and used emails to trick employees into sending large sums to fraudulent bank accounts.

Cybersecurity 76

Cybersecurity Email Compromise Law Enforcement Business Email Compromise 76

PYMNTS

OCTOBER 7, 2020

The Financial Crimes Enforcement Network recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams — all with a COVID-19 twist.

Bitcoin 93

Bitcoin Consumer Scams Cryptocurrency 93

PYMNTS

OCTOBER 3, 2017

Ahmed also noted that staff training and exercises to test employee response to phishing attacks are key ways companies can protect themselves against cybercrime. Earlier this year, TD Bank warned that this scam, known as the business email compromise in the U.S., is now the most common cyberattack against corporates.

Email Compromise 41

Email Compromise Scams NACHA Compromise 41

PYMNTS

MARCH 21, 2019

As researchers at Agari reported, business email compromise (BEC) attacks have been going mobile. As reported in Credit Union Times , the attacks are still done through email, but also look for mobile number details to “better coerce” intended victims to funnel funds to bad actors’ accounts.

Business Email Compromise 45

Business Email Compromise Scams Email Compromise Cross-Border 45

PYMNTS

SEPTEMBER 3, 2020

That might include things like phishing or business email compromise, or it may be a more sustained attack on an organization to actually disrupt their ability to function by targeting their digital network.”. . This does create an appetite for cyberattacks,” maintained Renshaw.

Money Laundering 111

Money Laundering AML Email Compromise Fraud Prevention 111

PYMNTS

MAY 12, 2017

. …………… 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. FBI Sees Wire Fraud Via Email Grow In 2016. billion across organizations.

Business Email Compromise 51

Business Email Compromise Phishing ATM FBI 51

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. Agari found the list, which has 50,000 targets.

Law Enforcement 46

Law Enforcement Email Compromise FBI Scams 46

PYMNTS

JULY 5, 2019

BEC: Fraudsters are leveraging variants in business email compromise (BEC) fraud, finding new ways to siphon off money from corporates. FireEye finds that there was a 26 percent boost quarter over quarter in malicious emails that sought to bring users to phishing sites and spoofed major brands.

Business Email Compromise 51

Business Email Compromise Email Compromise Phishing Database 51

PYMNTS

DECEMBER 7, 2018

The scope of the scam comes courtesy of cyber threat detection firm Agari, which has said the group, London Blue, seeks to ply its trade through the business email compromise (BEC) effort. The emails try to get the victims to send money to accounts – and the money, of course, is likely to disappear forever. “It

Scams 68

Scams Credit Cards Email Compromise Business Email Compromise 68

PYMNTS

MAY 2, 2017

In other news of note from the Facebook space, it recently came to light that the social media giant, along with Google, were the heretofore unnamed victims of a combined $100 million phishing attack earlier this year. At the end of March , the U.S. The corporate victims, now known to be Facebook and Google, weren’t named at the time.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

FEBRUARY 20, 2019

Citing 2018 data from Verizon, Mastercard noted research that suggested the majority of cyberattacks are actually targeted at SMBs, ranging from phishing scams and the Business Email Compromise (BEC) to malware and ransomware attacks. In a press release on Tuesday (Feb.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

APRIL 12, 2019

Thus, business email compromise fraud (BEC) is evolving too. It’s no secret that fraud is evolving as the bad guys and bad girls look to stay one step ahead of the ones wearing the white hats, warding off fraudulent transactions with the aid of prudence and good technology.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

APRIL 9, 2018

Gemini Advisory, which first identified the breach at Hudson’s Bay, suggests human error was to blame: An employee likely clicked on a malicious link sent via a phishing scam. IBM warned that some of the most common human errors linked to data breaches involve “basic misjudgment.” To err is human,” IBM said in its report.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

PYMNTS

APRIL 2, 2019

Spend control isn’t easy — just ask Google and Facebook, which confirmed in 2017 they were among the corporate victims of a widespread phishing attack that tricked businesses into paying fake invoices. The scam wasn’t a one-off job, either.

Email Compromise 59

Email Compromise Scams Correspondent Phishing 59