This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The Business Email Compromise (BEC) continues to evolve. New analysis from Bank Info Security , for instance, revealed that BEC scammers have begun to target corporates’ financial documents from accounts receivable departments to identify unpaid invoices, as well as information regarding Days Sales Outstanding and clients.
Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.
In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). According to the latest research from Bottomline Technologies, businesses said the fraud threat is on the rise.
1 in 10 small businesses are able to cover more than 50 percent of fraud losses , the latest research from Bottomline Technologies revealed in its Bottomline 2020 Business Payments Barometer report. ” Coronavirus-related scams are on the rise, too, researchers found. The company found that 58 percent of U.K.
As lawmakers ponder this risk, PYMNTS highlights some of the newest data points uncovered by researchers examining small business cybersecurity. Information on phishing email or BEC scam campaigns, for instance, can be shared to help small businesses protect themselves before an attack occurs.
This week’s B2B Fraud Tracker looks at the latest cases and allegations of fraud, which show rising sophistication in fraudsters’ tactics: internal bad actors are no longer acting alone, BEC scams are no longer reliant on chance and financial institutions face a growing trend in loan fraud. A New Twist On the BEC Scam.
The study was done by researchers from North Carolina State University, the University of Missouri-Kansas City and the University of Chieti-Pescara in Italy. ” However, the research showed that CFOs aren’t always the ones behind fraud, and are sometimes pressured to take part.
Drilling down a bit, research databases such as FactSet state that the verticals most markedly impacted thus far include tech , where components make their way, generally, from Asia to these shores. BEC: Fraudsters are leveraging variants in business email compromise (BEC) fraud, finding new ways to siphon off money from corporates.
Email often gets overlooked in the 2019 digital economy, given the higher levels of excitement attached to social media, video and other, more cutting-edge tools — to say nothing of the use of text as a communication tool. The operation also resulted in the seizure of nearly $3.7
“It seems like every time somebody does some research on this topic,” observed Divitt, “the numbers tend to grow.”. He described this as a “group of both business email compromise , BEC as it’s called, or CEO fraud.”. So beware, or at least view skeptically, what is in your inbox.
81 percent is the share of business owners who experienced payments fraud in 2019, according to a JPMorgan Chase announcement , citing a recent poll by the Association for Financial Professionals (AFP) and J.P. NordVPN Teams researchers looked at worldwide breach activity and examined more than 1.7 million breaches.
For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts. Past incidents from biotech and genealogy companies have dampened public trust in the privacy of health data. Source: NPR via Twitter.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content