article thumbnail

BEC Fraudsters Eye HR Departments As Prey      

PYMNTS

The HR/finance professional focus seeks to get credentials from a high-ranking employee in a targeted firm and leverages that employee’s legitimate email account to send emails to the finance professionals to get the funds transferred. Separately, even a range of transaction types are increasingly in the fraudsters’ crosshairs.

article thumbnail

Cyberattackers Turn To Payments Fraud, Ransomware As Tech Firms Fight Back

PYMNTS

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. The first half of this year had a 35 percent rise in overall attack volume in contrast to the latter half of last year.

article thumbnail

A FinTech Reality Check: Paper Checks Need Attention

PYMNTS

In what has become a highly cited statistic from the Association for Financial Professionals (AFP), there was actually 1 percent increase in the use of paper checks for B2B payments between 2013 and 2016. And the way the world of B2B payments works today is very often with paper checks. In other words, every payment rail has its challenges.

Checks 40