PYMNTS

NOVEMBER 30, 2020

While the business email compromise (BEC) scam is a global pain point for businesses, this week's B2B Data Digest looks at the latest figures in B2B payments fraud and finds BEC heating up in one particular region: Australia and New Zealand.

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PYMNTS

MARCH 23, 2020

It’s too soon to tell how the coronavirus crisis will impact corporates’ financial and payment operations, but while analysts continue to raise the alert about consumer payments fraud, the risk of B2B payments fraud persists, particularly as more employees work from home.

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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. billion from unsuspecting companies. According to reports, funds wired are rarely recovered.

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PYMNTS

SEPTEMBER 16, 2019

Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm in January.

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PYMNTS

FEBRUARY 24, 2020

This week’s B2B Data Digest takes a look at the latest data points behind more cases of B2B payments fraud. 2,100 corporates were targeted in a widespread business email compromise (BEC) scam recently uncovered by cybersecurity company Agari , the firm revealed last week.

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PYMNTS

NOVEMBER 13, 2020

The cross-border B2B payments space experienced a small drop in growth during the first half of 2020 due to the COVID-19 pandemic’s effects, but it is expected to continue expanding despite this hiccup. It also analyzes these shifts' impact on future international B2B payments. The Pandemic And Changing B2B Needs.

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PYMNTS

JULY 20, 2018

Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on the rise. The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018.

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PYMNTS

DECEMBER 8, 2020

According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. According to the FBI, professionals must be "wary" of online job postings that cater to the remote worker, with many of these posts having fraudulent intentions.

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FBI Business Email Compromise Scams Mitigation 71

PYMNTS

OCTOBER 10, 2018

When it comes to business-to-business (B2B) transactions, paper checks are often the villain, cards an expensive but quick underdog, and ACH and its non-U.S. Rarely does the wire transfer come into play as an exciting, innovative payment rail ready to disrupt cross-border B2B payments. Thieves attempted to steal $5.3

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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 real estate sector is especially at risk, the FBI noted — from 2015 to 2017, the number of real estate transaction incidents increased by more than 1,110 percent. ” The Larger Trends.

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Business Email Compromise Email Compromise Scams Online and Mobile Banking 61

PYMNTS

JANUARY 18, 2019

Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

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Business Email Compromise Scams Audit Payroll 69

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. According to the FBI, more than $26 billion in losses linked to BEC were reported between July 2016 and September 2019. Beyond The BEC.

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PYMNTS

OCTOBER 26, 2018

BEC, the acronym for business email compromise scams, is getting its share of attention. That comes in the wake of BEC scams that are growing as a threat to companies of all sizes and industries as they conduct B2B operations. The warning on cybersecurity risk comes as the FBI has estimated that over the past five years, U.S.

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PYMNTS

DECEMBER 21, 2018

In examples of the ill-famed business email compromise ( BEC ) scams that seem to make frequent headlines, $1 million was transferred from the Save the Children Foundation. The fraudster sent emails from an employee’s account that had been accessed, and convinced the foundation to send money for solar panels in Pakistan.

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PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. Compare that to ransomware, which made up just 11 percent.

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Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be.

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PYMNTS

JANUARY 9, 2019

Among the most prevalent is the Business Email Compromise (BEC), a type of social engineering attack that received significant attention last year. NACHA found that, in the first 11 days that the service went live in 2017, only 6 percent of the 2 million transactions made were B2B transactions.

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PYMNTS

JUNE 20, 2016

This week’s B2B Data Digest focuses on the flux and flow of managing cash. Cybercrime involving email scams are on the rise, as businesses and their AP officials receive these fraudulent emails that seemingly request legitimate money transfers by posing as a corporate executive or a supplier requesting payment.

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PYMNTS

SEPTEMBER 9, 2019

million has been returned to the City of Unalaska in the wake of an investigation by federal authorities into business email compromise (BEC) fraud. Separately, in the States, in Alaska, it was reported that more than $2.3 As has been reported across news sites such as KUCB , the city paid $2.9

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PYMNTS

JUNE 26, 2018

Take, for instance, the Business Email Compromise, a scam that is attributed to an estimated $5.3 billion in stolen corporate funds in 2016, according to the Federal Bureau of Investigation (FBI). However, even sophisticated cybersecurity technologies still struggle to identify and prevent some of the most basic cyberattacks.

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PYMNTS

JUNE 23, 2016

For some, like small suppliers, a compromise of sensitive data and credentials can lead to a few hundred or thousand dollars fraudulently obtained from a business client, often via the Business Email Compromise scam. Supplier email scams , the FBI said, are rising at massive rates. 2013, resulting in $3.1

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PYMNTS

FEBRUARY 14, 2020

And at its investor day this past week, Visa said that within the B2B space, cross-border flows represent a $10 trillion opportunity. B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise. That’s up 40 percent over 2018.

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