PYMNTS

OCTOBER 12, 2020

But that problem could be a thing of the past thanks to the launch of the world’s first B2B cybersecurity marketplace that enables buyers to easily search, compare pricing and purchase the right IT solution in one place. With over 5,000 cybersecurity vendors in the U.S.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

AUGUST 24, 2020

This week's B2B Data Digest looks at the rising threat of the business email compromise (BEC) scam and invoice fraud on companies of all sizes in the U.S., A 60 percent increase in ransomware payments signals continued B2B payment attacks, according to the latest data from Coveware. Canada and the world over.

Scams 119

Scams Business Email Compromise Ransomware Email Compromise 119

PYMNTS

APRIL 18, 2019

For many, however, the technology still conjures up images of cybercrime and illicit activity, and new data revealing the rising threat of ransomware is likely to fuel that negative reputation. Between 2018’s fourth quarter and 2019’s first, the average cost of a ransomware attack spiked by a whopping 89 percent to $12,762.

Ransomware 57

Ransomware Bitcoin SDN Cryptocurrency 57

PYMNTS

OCTOBER 5, 2020

In this week’s B2B Data Digest, PYMNTS examines some of these numbers, finding that businesses are falling victim to payments fraud, but that tech firms are taking actions to mitigate cyber risks. . Over one-third of the ransomware strain’s victims have been estimated to have made a ransom payment.

Ransomware 54

Ransomware AFP Breach Payments 54

PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. This week's B2B Data Digest takes a look at the numbers behind those spikes, finding small businesses to be particularly at-risk.

Business Email Compromise 96

Business Email Compromise Scams Ransomware Email Compromise 96

PYMNTS

DECEMBER 5, 2017

When a company is hit by ransomware, the cost of paying the ransom is rarely, if ever, the full cost of the cyberattack. And while most said they acknowledged ransomware as a significant threat, less than half said they were confident they would be able to deal with a ransomware attack.

Ransomware 50

Ransomware Small Business Cybersecurity Addressing 50

PYMNTS

MAY 21, 2018

New research from the NTT Security 2018 Global Threat Intelligence Report, released last week by Dimension Data , found a sharp increase in ransomware attacks aimed at supply chains last year. But according to the report, the trade secrets and intellectual property that fill supply chains have emerged as key targets for ransomware attackers.

Ransomware 42

Ransomware Research Accounts Government 42

PYMNTS

JANUARY 27, 2020

Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well. The city was hit with the ransomware attack on Dec.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

The Paypers

OCTOBER 23, 2019

(Telecompaper) Billtrust , a B2B payments provider, is still recovering from a ransomware attack that began last week, according to security researcher Brian Krebs.

Ransomware 28

Ransomware B2B Payments Research 28

PYMNTS

JUNE 21, 2017

A South Korea-based web hosting firm has fallen victim to ransomware. Reports Tuesday (June 20) said Nayana was hit by a ransomware attack on June 10. The attack held 153 of the company’s servers under control, with the ransomware encrypting the servers and attackers refusing to release them unless the ransom was paid. “We

Ransomware 40

Ransomware Encryption Cybersecurity Bitcoin 40

PYMNTS

OCTOBER 23, 2019

As it recovers from a ransomware attack that started last week, business-to-business payments provider Billtrust is in its last stages of putting all of its systems online from backups. The company learned of a malware intrusion on Oct. 17, Krebs on Security reported.

Ransomware 40

Ransomware Law Enforcement FBI Encryption 40

PYMNTS

DECEMBER 16, 2019

Unfortunately, this time of year fails to bring relief for businesses that fall victim to corporate and B2B payments fraud, too. Yet, analysts warn, as cross-border B2B payment volumes rise, so does the risk of fraud. 60 percent more ransomware attacks were recorded this year , new data from Kaspersky Labs found. In the U.S.,

Ransomware 59

Ransomware Cross-Border Cross-Border Payments Payroll 59

PYMNTS

MAY 1, 2018

The company is introducing added features to protect SMBs against phishing and ransomware. Enterprise software suite Microsoft 365 Business is adding enhanced cybersecurity solutions for small business (SMB) users, Microsoft announced ON Monday (April 30).

Ransomware 40

Ransomware Phishing Small Business Social Security 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.

Business Email Compromise 69

Business Email Compromise Ransomware Payee Overlay Service 69

PYMNTS

APRIL 4, 2019

The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads. As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR).

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

SEPTEMBER 13, 2018

Issues like phishing and the Business Email Compromise (BEC) are top concerns, yet ransomware cannot be ignored as a destructive force. In a survey of 1,700 managed service providers (MSPs) that work with a combined 100,000 SMBs, Datto found that 99 percent of respondents agree ransomware attacks will probably pick up this year and next.

Ransomware 58

Ransomware MSPS Disaster Recovery Cybersecurity 58

PYMNTS

JUNE 22, 2020

A cyberattack from Maze ransomware against global business and tech firm Cognizant mostly hit the company’s corporate cards that had been issued to employees, the company told authorities, according to The Times of India.

Identity Theft 102

Identity Theft Ransomware FBI Enrollments 102

PYMNTS

JULY 22, 2019

Last month, the city of Riviera Beach, Florida, was crippled by a ransomware attack that led to it paying a hefty sum to recover government systems. Ransomware attacks are on the rise within local and state governments, he added, leading to revived debate about how to handle such a scenario. . What’s the alternative?” .

Government 58

Government Governance Ransomware Compromise 58

PYMNTS

OCTOBER 15, 2018

. $133,000: the average cost of a ransomware attack on a small business. However, SCORE took into account the cost of recovering data, the cost of downtime and lost business opportunities to calculate the true cost of a ransomware attack on a small business.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

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. 41 percent more ransomware attacks were initiated last year , the New York Times reported, citing data from Emsisoft, with 205,280 businesses losing access to their data as a result.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

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

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

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

PYMNTS

JULY 30, 2019

Most recently, a string of ransomware attacks hit local government entities that ultimately decided to pay off the attackers to regain access to computers. It’s unclear how the local governments recently affected by ransomware attacks will feel the longer-term effects of the incidents, or of using taxpayer money to pay off the attackers.

Data Breach 64

Data Breach Small Business Breach Ransomware 64

PYMNTS

JUNE 1, 2020

Although the tactic appears to be new and relatively small in volume, reports in TechRadar said the strategy often involves a fake vendor payment form to infiltrate B2B payment workflows. As the threat of B2B payments fraud persists, PYMNTS looks at the data behind some of the other latest cases of such digital scams. said recently.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

NOVEMBER 28, 2018

The majority of malware victims are small businesses, GoDaddy noted, with ransomware a rising threat to SMBs and their coffers, with one-in-five SMBs having fallen victim to a ransomware attack in the last year. Yet small businesses are the biggest target for cyber thieves.

Small Business 78

Small Business Cybersecurity Ransomware Compromise 78

PYMNTS

JUNE 15, 2018

From warehouse robots to R&D analytics, the B2B startups covered in this week’s VC Investment roundup scored close to $200 million from investors. PYMNTS breaks down the latest B2B startups to secure funding rounds below. Logistics and alternative finance were high on the board, but it was a cybersecurity company in the U.S.

Cybersecurity 40

Cybersecurity B2B Non-Bank Finance 40

PYMNTS

JUNE 24, 2020

Nium, formerly known as InstaReM, is rolling out a new B2B solution designed to help small businesses access credit from their card products. Financially, Cognizant said it estimates the impact of the ransomware attack could be between $50 million and $70 million. Nium Uses Cards For Credit.

Commercial Card 52

Commercial Card Innovation Ransomware Card Issuer 52

PYMNTS

DECEMBER 30, 2016

Mike Vigue, vice president, product strategy, cyberfraud and risk management at B2B payments firm Bottomline Technologies , warns that ongoing use of paper checks, fraudulent emails and general ignorance of cyberthreats will continue to place businesses — and their payment activities — at the center of thieves’ targets.

Checks 58

Checks Email Compromise Security Compromise 58

PYMNTS

JANUARY 23, 2020

Among the most troubling examples of this is in the case of ransomware, in which cyberattackers require ransom to be paid in a digital currency. “We have seen over the last couple years a major upswing in ransomware events affecting our insurance claims, and the vast majority are demanding payment in some sort of cryptocurrency.”

Ransomware 58

Ransomware Cryptocurrency Small Business Risk 58

PYMNTS

NOVEMBER 2, 2018

The decryptor, which stems from that joint effort and is offered for free, looks to battle GandCrab, a ransomware that has been able to defraud victims of more than $500 million this year alone. As noted via the U.K.’s

Ransomware 67

Ransomware Audit FBI Scams 67

PYMNTS

JUNE 14, 2016

Researchers at Citrix this month found evidence that businesses are shoring up reserves of bitcoin so they can pay ransoms as quickly as possible should they be hit with ransomware. businesses – one-third said they were shoring up bitcoin in case of a ransomware attack, according to reports.

Bitcoin 41

Bitcoin Ransomware Cybersecurity Research 41

PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. 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.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

APRIL 29, 2019

” Finally, he said, ransomware is another massive threat that continues to grow, particularly as attackers adjust their tactics from single, large targets to many smaller hauls. ” Taking Action.

Cybersecurity 74

Cybersecurity Ransomware Data Breach Non-Bank 74

PYMNTS

SEPTEMBER 14, 2017

The problem persists, and evidence suggests it’s getting worse, with recent research from TD Bank revealing news that 91 percent of survey respondents expect B2B payments fraud and invoice scams like business email compromises to increase in the coming years. billion in total losses since 2013.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

SEPTEMBER 21, 2018

Ransomware is in there, of course, where a methodology shift is underway — i.e. criminals are less random in their approach and now target specific companies and individuals. Amid those figures, B2B transactions are up 13 percent and stand at 16 percent of ACH volume. Across The Pond. The transaction tally is at $4.5

Payroll 56

Payroll FBI ACH Same Day ACH 56

PYMNTS

JULY 16, 2019

Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,” Mnuchin said, adding that he is “not comfortable today” with the social media giant’s planned launch.

Treasury 75

Treasury Security Money Laundering Cryptocurrency 75