PYMNTS

JANUARY 18, 2019

As reported late this week in Dark Reading , and as estimated by security research firm Agari , efforts are “ramping up” wherein criminals look to “divert payrolls” of senior executives. A pair of studies have shown that companies are increasingly being targeted through methods both sophisticated and decidedly mundane.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

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

OCTOBER 15, 2018

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. Researchers advised small business owners to not download any email attachments from an unnamed address.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

DECEMBER 8, 2020

According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. The FBI also noted that this scam can often be coupled with other types of fraud, sometimes coming in the form of BEC in which a scammer requests a wire transfer or other payment be made.

FBI 71

FBI Business Email Compromise Scams Mitigation 71

PYMNTS

APRIL 30, 2018

” In a survey of treasurers, cash management professionals, CFOs and other professionals in the treasury department, researchers found that nearly two-thirds of respondents (61 percent) feel they are in a better position this year to combat fraud within their organizations compared to last year. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Treasury Ransomware Wires 59

PYMNTS

JUNE 14, 2018

Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 Business identities can be used to open card accounts, initiate wire transfers or commit tax fraud. million, in 2016 alone. with more than 16,800 victims recorded in 2016. . What to Do About It.

Identity Theft 43

Identity Theft Wire Transfer Crime Email Compromise 43

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Research recently released from Sage found a tenth of B2B invoices sent by small- and medium-sized businesses are paid late or never paid at all, and the problem accounts for up to $3 billion in late payments to SMB payers worldwide.

Accounts 44

Accounts Wire Transfer Wires Wire 44

PYMNTS

APRIL 14, 2017

In its 2017 AFP Payments Fraud Survey , researchers noted a “dramatic” increase in corporate payments fraud compared to levels seen in 2015. Carlsson noted earlier research released by the AFP for its analysis of the use of electronic payments among corporates. Where we stand right now, we’re at the peak level of payment fraud.”.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

JUNE 20, 2016

Examine the latest research to grasp just how cumbersome modern cash management can be. $3 Cybercrime involving email scams are on the rise, as businesses and their AP officials receive these fraudulent emails that seemingly request legitimate money transfers by posing as a corporate executive or a supplier requesting payment.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41