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Fraudsters Try New Spins On The BEC Scam

PYMNTS

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. BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well.

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The Big Spike In ‘CEO Fraud’

PYMNTS

Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses.