PYMNTS

JULY 20, 2016

The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and invoices requesting firms to wire funds. A new notice from the FBI continues its crackdown of the scheme and pinpoints what reports call “ground zero” for the scam.

FBI

PYMNTS

SEPTEMBER 11, 2019

But that message is apparently lost on criminals, who, according to a new report, have stolen some $26 billion over the last three years in a scam generally known as “ business email compromise.”. This is not the first time the FBI has sounded a warning about business email compromise. Federal Bureau of Investigation.

Scams

PYMNTS

APRIL 5, 2019

Stacy Arruda, a former special agent with the FBI and now executive director of the state of Florida ISAO on cybersecurity, said that part of the problem is that when it comes to protecting credit unions — and really any financial institution — danger lurks in what they don’t know. What to Do. But, as they say, prevention begins at home.

FBI

PYMNTS

MARCH 23, 2020

The financial institution (FI) vowed last April to refund all victims of authorized push payment fraud, which often occurs after individuals are tricked via calls, texts and emails posing as legitimate bank staff. million in estimated refunds were paid by U.K.

Email Compromise

PYMNTS

OCTOBER 7, 2019

New scrutiny has hit a Pennsylvania public transport authority, SEPTA, with sources telling The Philadelphia Inquirer that allegations of fraud have led to involvement by the Federal Bureau of Investigation. “VEC is the next evolution of business email compromise. . “VEC is the next evolution of business email compromise.

Scams

Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. According to the FBI’s 2020 Internet Crime Report, 2020 alone saw 791,790 complaints of suspected internet crime – an increase of more than 300,000 since 2019. What Is a Business Email Compromise Attack?

Email Compromise

VISTA InfoSec

JUNE 21, 2023

Data breaches are affecting millions of people across the globe, with over 340 million records already compromised in 2023 headline cases and new incidents surfacing every week. You need to know if any data has been compromised and, if so, where it may have been shared. This must be done using the electronic notice forms online.

Data Breach

Fintech Finance

OCTOBER 24, 2024

Government impersonation scams: Consumers are falling victim to scams where fraudsters pose as representatives from the government, including agencies like the USPS, the FBI and the IRS. In the first three months of 2024, the average government impersonation scam victim in the U.S. lost $14,000 in cash, totaling more than US$20 million.

Scams

PYMNTS

JANUARY 13, 2020

Travelex said the malware was kept in check and customer data was not compromised. . Based on Travelex’s extensive internal assessments and the analyses conducted by its expert partners there, is no evidence to suggest that customer data has been compromised,” the company said.

Ransomware

PYMNTS

DECEMBER 9, 2016

Filip Chytrý , threat intelligence researcher at Avast Software , defines Crimeware-as-a-Service as an automation of malicious cyberattacks — rather than hackers compromising vulnerable systems themselves, they can instead pay for already established botnets and other online interfaces to seek out and exploit vulnerabilities.

Monetary Loss

PYMNTS

SEPTEMBER 17, 2018

In Australia, news came that police have charged a quartet of alleged fraudsters with running a business email compromise (BEC) scam. The strike force behind the arrests had been charged by authorities overseeing cybercrime and investigating criminal syndicates focused on identity and email theft. ” The Larger Trends. “We

Business Email Compromise

PYMNTS

AUGUST 26, 2019

The Hill reported that the 252-count indictment was unsealed after authorities arrested 14 of the defendants in the United States; 11 of them had been based in Los Angeles; the remainder are outside the United States. The individuals are charged with using business e-mail compromise (BEC) scams to dupe victims.

Business Email Compromise

PYMNTS

MAY 25, 2016

Apple’s encryption battle against the FBI may have simmered down, but Apple is not backing down on further bolstering the security of its devices. Callas’ appointment comes just weeks after the FBI spent $1.34 and Silent Circle, Reuters reported. Apple doesn’t seem to have any intentions of budging, of course.

Encryption

PYMNTS

OCTOBER 23, 2017

According to a news report in Reuters , in a rare move, the Department of Homeland Security and the Federal Bureau of Investigation (FBI) warned that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. The FBI declined to comment.

Security

PYMNTS

MAY 2, 2019

As early as 2017 , the Department of Homeland Security (DHS) and the Federal Bureau of Investigation (FBI) warned that sophisticated hackers were targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities.

FBI

FICO

AUGUST 16, 2022

At FICO World 2022, I hosted a session where we talked about global fraud trends like authorized push payment scams and romance scams. And card skimming is big business; the FBI estimates that “skimming costs financial institutions and consumers more than $1 billion each year.”. But here in the U.S., through FICO’s Card Alert Service.

Compromise

PYMNTS

JULY 31, 2019

UniCredit has contacted the relevant authorities and is actively investigating the matter.”. The FBI noticed her activity on a Meetup she organizes called Seattle Warez Kiddies, which is for people into “hacking, cracking.” The data breach affected more than 100 million people, and the alleged perpetrator was quickly arrested. .

Data Breach

PYMNTS

SEPTEMBER 17, 2018

Per Nathan Shields, special agent with the FBI , the details of the conspiracy and the hack(s) come from multiple sources, spanning activities such as analyzing compromised victim systems and executing approximately 100 search warrants across 1,000 email and social media accounts.

SWIFT

PYMNTS

SEPTEMBER 9, 2019

In anecdotes reported by Tamebay, seller accounts have been compromised, the fraudsters buy URLs with similar addresses and tie an e-mail account to that address. The taxman would keep a close watch on firms that quote common addresses, PANs, emails, mobile numbers or authorized signatories, according to the report.

Business Email Compromise

PYMNTS

AUGUST 20, 2018

If the Federal Bureau of Investigation (FBI) is right, a whole other bad idea is about to be unleashed upon our collective bank accounts. Krebs on Security cited a confidential alert that the FBI sent to banks late last week, saying that millions of dollars can be stolen in only a few hours.

FBI

PYMNTS

OCTOBER 26, 2018

BEC, the acronym for business email compromise scams, is getting its share of attention. The Securities Exchange Act of 1934 requires companies to develop internal accounting controls that mandate that transactions are done only with management’s “general or specific authorization.”. firms have lost more than $5 billion to BEC scams.

Business Email Compromise

PYMNTS

AUGUST 20, 2018

And, if the Federal Bureau of Investigation (FBI) is right – a whole other bad new idea is about to be unleashed up our collective bank accounts. According to a Krebs on Security report, citing a confidential alert the FBI sent to banks late last week, millions of dollars can be stolen in only a few hours.

FBI

PYMNTS

APRIL 11, 2016

Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 The growth in compromised ATM incidences continued unabated through the past year, FICO noted late last week, with the total number of ATMs being hit rising as much as 546 percent year over year. billion since 2013.

ATM

PYMNTS

SEPTEMBER 3, 2019

One of Methbot’s ringleaders was extradited from Bulgaria to the United States in January and indicted with 13 counts of wire fraud, money laundering and computer intrusion, but authorities are still coming to grips with the scale of the operation. This effectively steals the impression from the advertiser.

Bots

FICO

JANUARY 10, 2023

We heard about taxi and fast-food scams where customers were distracted as large sums were being entered into card machines prior to PIN entry, as well as many variations on authorized push payment fraud. In 2022, we saw an alarming increase in the number of compromised cards, as monitored by the FICO’s Card Alert Service.

Scams

PYMNTS

MAY 28, 2018

According to reports from Reuters early last week, Russian hackers have “compromised hundreds of thousands of home and office routers and could collect user information or shut down network traffic.” Users are also encouraged to download manufacturer updates to protect their devices. The move came after Cisco Systems, along with U.S.

Returns

PYMNTS

OCTOBER 27, 2017

This week saw warnings from both the Department of Homeland Security and the Federal Bureau of Investigation (FBI) that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. The FBI declined to comment. Cyberattacks targeting U.S.

AI

PYMNTS

SEPTEMBER 9, 2016

When it comes to cyberattacks, there is one kind that Rojas believes cybercriminals will use to perpetuate fraud, regardless of speed of transaction, the payments system or type of technology: the Business Email Compromise (BEC) — popularly known as CEO fraud. A total of 17,642 reports of BEC were reported to authorities between Oct.

Same Day ACH

CB Insights

JULY 23, 2020

While the World Health Organization (WHO) and other health authorities have issued guidance for companies to make offices safer, reopening plans vary widely between countries and cities. Companies will have to look to guidelines from local and national authorities for each office location. Why IT matters. Source: NPR via Twitter.

Posting

PYMNTS

MAY 15, 2017

In May of 2016, the FBI reported that ransomware would top $1 billion that year — they estimated $1.6 Federal law enforcement authorities and internationally renowned independent security organizations also point to bitcoin as one of the major reasons that cybercrimes, especially ransomware, have taken off.

Bitcoin