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The B2B Payments Fraud Threat Of Internal Employees

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That means the vast majority of businesses are at risk for an array of cybersecurity incidents, including the Business Email Compromise (BEC), which often sees fraudsters spoofing legitimate email addresses from vendors, and sending seemingly real requests for payment. According to local Kentucky Today reports, $1.5

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Business Email Scam Not Covered By Cyber Insurance, Canadian Court Rules

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The Business Email Compromise (BEC) scam is jeopardizing millions of dollars for businesses of all sizes and industries. As instances of the BEC scam continue to rise, a new challenge for companies could be on the horizon, too, as questions mount over whether such cyberattacks are covered by cybersecurity insurance.

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Hacker Tracker: Identity Fraud On The Rise

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percent increase in identity fraud victims since 2011, when 11.6 FBI Sees Wire Fraud Via Email Grow In 2016. From October 2013 through December 2016, a new report from the FBI suggests cybercriminals used business email compromise (BEC) scams to try and steal some $5.3 million in the U.S. This latest number represents a 32.7

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Will Same Day ACH Rollout Spark A Fraud Spike?

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And after a brief dip in 2010 and 2011, the increase continued until it peaked in 2014, according to Financial Fraud Action UK. A total of 17,642 reports of BEC were reported to authorities between Oct. That’s agnostic to whether it gets realized as a wire or ACH transaction,” Rojas said. 2013 and Feb. The cost of such attacks?