PYMNTS

JANUARY 13, 2020

As Travelex works to regain control of its systems, restore operations and mitigate any future fallout from the incident, the cyberattack is yet another reminder that one company’s cyber vulnerabilities can have far-reaching effects throughout the B2B supply chain.

B2B

PYMNTS

FEBRUARY 3, 2020

The accused allegedly tapped a network of 49 shell firms for the business to business (B2B) scam that defrauded the government. When it comes to B2B payment scams , it’s not only outsiders but entities’ own internal personnel that is often the cause of fraudulent activity.

Scams

PYMNTS

NOVEMBER 18, 2019

Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk of payments fraud — and governments are taking steps to react accordingly. Hassold provided a public comment on the vendor email compromise scam. Meanwhile, in the U.K.,

Business Email Compromise

PYMNTS

JANUARY 16, 2020

The business email compromise (BEC) scam is a cybersecurity threat to businesses of all sizes, and the financial and security implications of a successful attack aren’t isolated to its target. Attackers also turn to developing fraudulent portals to compromise professionals’ email credentials, for example.

Business Email Compromise

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. The FBI has dubbed the Business Email Compromise a “super swindle” due to the value of money already stolen through the scam.

FBI

PYMNTS

MARCH 12, 2020

And while a SMBs might adopt a tool like Zelle or RTP for the sake of meeting their consumers’ payment needs, Reuter said SMBs find significant value in key features like Request For Payment to be able to streamline receivables and obtain a holistic view of incoming cash flows.

RTP

PYMNTS

NOVEMBER 6, 2017

Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime. According to the publication, scammers using the BEC, in which a fake invoice is sent to a company with request for payment, have stolen “large sums of money” from art galleries in the U.K.

Scams