PYMNTS

FEBRUARY 3, 2020

The accused allegedly tapped a network of 49 shell firms for the business to business (B2B) scam that defrauded the government. When it comes to B2B payment scams , it’s not only outsiders but entities’ own internal personnel that is often the cause of fraudulent activity.

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Scams B2B Email Compromise Business Email Compromise 52

PYMNTS

NOVEMBER 18, 2019

In Ireland, police are sounding the alarm on the threat of B2B payments fraud after multiple businesses lost hundreds of thousands of dollars to business email compromise (BEC) scams. Hassold provided a public comment on the vendor email compromise scam. Meanwhile, in the U.K., according to recent reports from The Guardian.

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Business Email Compromise Scams Email Compromise Compromise 51

PYMNTS

MARCH 7, 2018

But as the new Medicare cards start being mailed, there might be an uptick in related scams. A request for payment to get a new card is a sign of a possible scam. The FTC gave a few tips for how consumers can protect themselves from any theft, such as remembering that the new Medicare cards are completely free.

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FTC Scams Identity Theft Federal Trade Commission 49

PYMNTS

APRIL 15, 2020

The FTC says the top categories of these scams entail travel and vacation-related items, online shopping and bogus text messaging, along with “all kinds of imposters.” According to the FTC, there have been 18,235 reports of fraudulent activity or fraud attempts related to the coronavirus since Jan. In total, people have lost $13.44

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FTC Scams Request for Payment Social Security 86

PYMNTS

NOVEMBER 6, 2017

Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime. According to the publication, scammers using the BEC, in which a fake invoice is sent to a company with request for payment, have stolen “large sums of money” from art galleries in the U.K.

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Scams Business Email Compromise Email Compromise Wire Transfer 43

PYMNTS

JULY 20, 2016

A new notice from the FBI continues its crackdown of the scheme and pinpoints what reports call “ground zero” for the scam. According to reports published on Tuesday (July 19), Hong Kong is the epicenter of these business email scams, with fraudsters already nabbing (or attempting to steal) $3.1

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FBI Scams Email Compromise Wires 40

PYMNTS

JANUARY 13, 2020

This week, however, a rundown of the latest B2B payment scams finds that it’s not only external bad actors, but entities’ own internal personnel that is often the cause of fraudulent activity. The scam reportedly lasted about five years, and the former bookkeeper has now been charged with felony theft.

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B2B Wire Transfer Cybersecurity FBI 89