Remove 2011 Remove Email Compromise Remove Wire
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The B2B Payments Fraud Threat Of Internal Employees

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Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports. The risk can also lead to fraudsters spoofing the email addresses of C-Suite executives to initiate payments to a fraudster’s account. 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. Brick sent $338,000 via wire to the fraudulent account. Brick was able to recover about $113,000 of the transfers, reports said.

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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.

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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. That’s agnostic to whether it gets realized as a wire or ACH transaction,” Rojas said. In 2009, it was 14 percent higher than levels seen the previous year. 2013 and Feb. 2016, according to the FBI.