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Fraudsters Try New Spins On The BEC Scam

PYMNTS

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. The city was hit with the ransomware attack on Dec.

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The Big Spike In ‘CEO Fraud’

PYMNTS

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. billion (or slightly over half) of all losses tracked in 2019. And while the BEC is not the most common form scam, it is a lucrative one.

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Study Shows Alarming Rise in Smartphone Identity Theft Among UK Consumers

The Fintech Times

One in four individuals have experienced digital wallet theft and one in five face unauthorised access to personal bank accounts via mobile apps. Despite company efforts, lax PIN hygiene and open apps on stolen devices pose serious threats, including account takeover and ransomware attacks.