PYMNTS

JANUARY 27, 2020

Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. Separate analysis from Singapore warned that monetary losses associated with BEC scams that specifically instruct targeted employees to send gift card redemption details are on the rise, too.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

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. BEC scams have been surging in 2020, with a 200 percent increase in reports between April and May this year, PYMNTS reported.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted. .

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

PYMNTS

NOVEMBER 4, 2019

But internal fraud is, of course, not the only risk businesses face, with this week’s B2B Data Digest also breaking down the latest numbers related to cyber fraud and business email scams attacking companies from the outside. 41,000: the average payout of a ransomware attack , new data from Coverware revealed.

Checks 40

Checks Scams Law Enforcement Ransomware 40

PYMNTS

AUGUST 21, 2017

The black market took a hit when, in July, law enforcement took down two of the biggest dark web marketplaces, AlphaBay and Hansa Market. On the dark web, some of those false listings come from law enforcement trying to bait criminals. It’s not that these sites didn’t have security or verification before.

Law Enforcement 45

Law Enforcement Laws Verification Void 45

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. We’re dealing with a criminal element.

Governance 40

Governance Government Law Enforcement Ransomware 40

Fintech News

FEBRUARY 21, 2024

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations.

Crime 105

Crime Ransomware Scams Stablecoins 105