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.

Cross-Border 64

Cross-Border Wire Transfer B2B Wires 64

PYMNTS

MARCH 23, 2020

Corporates and government officials have recently been sounding the alarm about coronavirus-related scams, and according to experts , the threat is likely to rise. Even in times of global crisis, fraudsters will always look for ways to exploit unsuspecting targets.

Email Compromise 71

Email Compromise Payroll FBI Compromise 71

PYMNTS

JANUARY 27, 2020

The Business Email Compromise (BEC) continues to evolve. Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. million , following a December 2019 cyberattack that has stalled government payments to suppliers.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

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.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

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 51

Business Email Compromise Scams Email Compromise Compromise 51

PYMNTS

MARCH 9, 2020

The FBI has once again sounded the alarm on the proliferation of digital fraud like ransomware and the business email compromise (BEC) scam, releasing new stats on the financial damage such criminal activity has caused in the U.S. million, a reflection of how B2B invoices can be used to defraud government entities, too.

Business Email Compromise 56

Business Email Compromise FBI Email Compromise Scams 56

PYMNTS

JANUARY 30, 2017

Health care entities and government agencies, too, are at risk for their data security. We take a look at some statistics around the ITRC and CyberScout’s latest report, as well as new data on government and health care data management practices. 1,093 data breaches hit entities in the U.S. Researchers found that businesses saw 45.2

Data Security 54

Data Security Government Governance Data Breach 54

PYMNTS

JULY 6, 2020

This week’s look at the latest cases of B2B fraud finds a surge of business email compromise (BEC) attacks, as well as emerging trends in fraud related to government coronavirus relief efforts. government has given companies a 30-day window to confess to furlough fraud, reports noted. ” The U.K.

Business Email Compromise 59

Business Email Compromise Email Compromise Scams Wire 59

PYMNTS

DECEMBER 17, 2019

An unidentified group is reportedly putting much effort into a complicated scam to steal the login credentials of government personnel. The scam begins when a company gets a bogus invitation via email to place a bid on a government contract.

Credential 40

Credential Scams Email Compromise Business Email Compromise 40

PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. A government mandate to adopt the new payments system in Europe has forced change in the way businesses make payments.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

SEPTEMBER 8, 2020

In this week's B2B Data Digest, PYMNTS looks at some of those numbers, finding cybercriminals both within and outside of the enterprise don't discriminate across borders as attacks hit companies in New Zealand, the U.K. and elsewhere. million per targeted attack.

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

PYMNTS

SEPTEMBER 9, 2019

In response, however, cybersecurity companies, businesses, and government officials are similarly exploring new strategies to combat this threat. Other tactics include strategic investment in cybersecurity, government-led initiatives, and technological innovation — all in an effort to stay ahead of bad actors.

Cybersecurity 72

Cybersecurity Email Compromise Deepfake Crime 72

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 SEC may urge caution, but victimization continues, even at the government level.

Business Email Compromise 49

Business Email Compromise Scams Cybersecurity FBI 49

PYMNTS

FEBRUARY 11, 2020

New data was released this week with an urgent, albeit not necessarily unexpected, message: ransomware and other phishing attacks continue to dramatically spike, with more frequent and more expensive attacks hitting businesses and government entities of all sizes. B2C Brands’ B2B Risks. The New York Times reported Sunday (Feb.

Phishing 58

Phishing PayPal Ransomware Cybersecurity 58

PYMNTS

APRIL 4, 2019

Meanwhile, instances of the Business Email Compromise (BEC) are also on the rise: About 47 percent of all incidents examined last year were the result of a hack or malware — and, of those, about half were BEC scams. New Attacks Emerge. ” Neither revealed whether they plan to pay the ransom, reports noted.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

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. 60% of U.K.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41

PYMNTS

JULY 15, 2019

In Australia, a new report shows just how widespread internal fraud in the Commonwealth, aimed at government agencies, has become. That fraud spans, among other methods, misuse of government credit cards and procurement payments, reported itnews.com.

Business Email Compromise 43

Business Email Compromise Email Compromise Payroll IRS 43

PYMNTS

APRIL 29, 2019

The SEC has also targeted the growing threat of cyberattacks against small businesses, with the Business Email Compromise a particular focus for the government agency. Last year, SEC Chairman Jay Clayton announced plans to explore allowing individuals the opportunity to invest in non-public companies.

Small Business 43

Small Business Email Compromise Laws Scams 43

PYMNTS

AUGUST 12, 2019

Business email compromise has come to high school sports. Anecdotal evidence pf questionable spend includes examples spanning invoices for IT equipment five times the market price, payments for expired contracts and invoices from debarred suppliers (contractors that the government will no longer work with).

Business Email Compromise 59

Business Email Compromise Scams Fincen Compromise 59

PYMNTS

FEBRUARY 16, 2018

government has been working hard to combat Russian cybercriminals targeting U.S. The business email compromise scam saw an increase of 10 percent during those two years. That data suggests Russian targets are as susceptible as the U.S. and other jurisdictions when it comes to cyberattacks, but the U.S. Late last year, the U.S.’

Email Compromise 40

Email Compromise Debit Card Credential Scams 40

PYMNTS

AUGUST 5, 2019

Business email compromise (BEC) attempt scams are gaining traction, targeting billions of dollars in ill-gotten gains. Targeting County Governments. million vendor payments from the Cabarrus County government and that of that tally, $1.7 million remains missing.

Business Email Compromise 43

Business Email Compromise Fincen Scams Email Compromise 43

PYMNTS

JUNE 14, 2018

As for other avenues, business email compromise showed up mightily, experienced by 77 percent of organizations in 2017. The former government employee and her son, Michael Greene, were under federal indictment four years ago for misusing government credit cards to the tune of $200,000 in improper purchases.

AFP 41

AFP Accounts Wire Wires 41

PYMNTS

NOVEMBER 30, 2018

The fraud is perhaps more commonly known as business email compromise (BEC). The former official had pleaded guilty to a single count of conspiring to commit money laundering, and took bribes from brokerage firms to sell dollar-denominated bonds for the government, said the newswire. Trade Invoicing Fraud.

Business Email Compromise 49

Business Email Compromise Scams Money Laundering Email Compromise 49

PYMNTS

JANUARY 23, 2017

percent) were hacking/skimming/phishing attacks, many of which are business email compromises, in which a hacker sends a seemingly legitimate email requesting that a company pay money. The report found that more than half of these breaches (55.5

Risk 43

Risk AFP Identity Theft Email Compromise 43

PYMNTS

MAY 3, 2019

The waves of business email compromise (BEC) scams continue, with certain verticals seemingly marked by fraudsters. In a view of how fraudulent activity can hit government agencies, ScienceAlert reported that a supplier had been sending faulty aluminum parts to NASA , and falsifying reports for decades.

Business Email Compromise 43

Business Email Compromise Scams Email Compromise Wire 43

PYMNTS

JANUARY 30, 2020

. “In many Asian jurisdictions, the real-time platforms have already been extended to businesses and governments,” McConaghy said. “The [fraud] risks are actually heightened in these ecosystems, as the payouts are potentially larger.” Adjusting Banks’ Strategies.

Faster Payments 43

Faster Payments APACS Real Time Payments Financial Crimes 43

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.

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 40

PYMNTS

JUNE 21, 2019

In the B2B space, the latest cases are spread across North America, Australia and the U.K. ” Similar predicaments of public image arise when a government falls victim to fraud. The cyberattack on the city was launched when a member of its police department clicked on an email attachment with an infected link. In the U.S.,

Government 43

Government Governance Scams Ransomware 43

PYMNTS

JUNE 1, 2017

For the past 15, 20 years, if you’re an organization, a business, a government entity, whatever, the rule of thumb was to get antivirus software and have a firewall,” he said. Take the Business Email Compromise, for example. That was the gold standard for a long time.

Cybersecurity 55

Cybersecurity Breach Email Compromise Compromise 55

PYMNTS

DECEMBER 7, 2018

The scope of the scam comes courtesy of cyber threat detection firm Agari, which has said the group, London Blue, seeks to ply its trade through the business email compromise (BEC) effort. The emails try to get the victims to send money to accounts – and the money, of course, is likely to disappear forever. “It

Scams 68

Scams Credit Cards Email Compromise Business Email Compromise 68