PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays.

B2B 89

B2B Wire Transfer FBI Cybersecurity 89

PYMNTS

DECEMBER 6, 2016

CEO fraud is considered to be one of the fastest-growing social engineering schemes being used by cybercriminals and is expected to cost the economy over $3 billion in 2016, which far outweighs the $1 billion in expected costs associated with ransomware. Most companies cannot afford to take that risk.”.

Phishing 67

Phishing Wire Transfer Email Compromise Business Email Compromise 67

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. 133,000: the average cost of a ransomware attack on a small business. “This is a scam, pure and simple. .

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

OCTOBER 1, 2020

A Medium post from Mitiga stated cybercriminals impersonated senior executives with Office 365 email services, used to access sensitive communications, alter wire transfers and redirect funds to rogue bank accounts. Businesses have become big targets of fraud amid the pandemic.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

PYMNTS

MAY 29, 2020

Elsewhere, another slide from the call noted that bitcoin has been used in Ponzi schemes and ransomware attacks (where last year there were 1,000 such attacks costing $7 billion), and darknet market revenues reached roughly $800 million last year. Meanwhile, money laundering represented $2.8

Bitcoin 74

Bitcoin Wire Transfer ACH Network Money Laundering 74

PYMNTS

APRIL 30, 2018

With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared to a year prior, corporate treasurers have been forced to swallow the large, uncomfortable pill of the threat of cyberattacks and fraud on their organizations in a short amount of time. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Treasury Ransomware Wire 59

PYMNTS

DECEMBER 30, 2016

2017 will see a continued rise in cybersecurity threats particularly around business email compromise , ransomware and malicious insiders. What cybersecurity threats will impact corporate buyers and suppliers in 2017? In addition, the battlefield is evolving.

Checks 58

Checks Email Compromise Security Compromise 58