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. In terms of data illuminating larger trends, the National Cyber Security Alliance found that roughly 50 percent of smaller firms have been victim of a cyberattack. ” The Larger Trends. “We

Business Email Compromise 61

Business Email Compromise Email Compromise Scams Online and Mobile Banking 61

PYMNTS

MAY 5, 2017

It’s been a big week in the broader cybersecurity realm, starting with a data breach of Sabre Corporation’s hospitality unit. Hill went on to state that tightly-linked data supply chains are simply a reality of modern business. The unauthorized access has been shut off, Sabre said.

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Breach Business Email Compromise Data Breach Cybersecurity 45

PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Gartner research director Ruggero Contu cited high-profile attacks, like the Equifax breach , as a key motivator behind this spend.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

PYMNTS

DECEMBER 18, 2017

judge has sentenced a Nigerian man to three years and five months in prison for his role in a business email compromise scam. Reports said Adindu was arrested in 2016 and allegedly carried out business email compromise scams between 2014 and 2016.

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Scams Email Compromise Compromise Wire Transfer 41

PYMNTS

OCTOBER 12, 2020

Healthcare is another major industry that Whitney said is one of “the most at-risk for ransomware and data breaches” with federally mandated patient privacy requirements (HIPPA) being widely implemented and having a compliant IT security framework that is up to date and in place is essential.

Cybersecurity 83

Cybersecurity B2B Email Compromise Business Email Compromise 83

PYMNTS

FEBRUARY 20, 2019

Citing 2018 data from Verizon, Mastercard noted research that suggested the majority of cyberattacks are actually targeted at SMBs, ranging from phishing scams and the Business Email Compromise (BEC) to malware and ransomware attacks.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56

PYMNTS

DECEMBER 30, 2016

Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of a cyberattack. 2017 will see a continued rise in cybersecurity threats particularly around business email compromise , ransomware and malicious insiders. In addition, the battlefield is evolving.

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Checks Email Compromise Security Compromise 58

PYMNTS

APRIL 10, 2019

The Association of Financial Professionals released new data this week that revealed the threat of payments fraud continues to climb, particularly for large enterprises, as scams like ACH fraud and the Business Email Compromise climb to record levels. But the latest analysis of U.S. But the latest analysis of U.S.

Risk 54

Risk Risk Mitigation Risk Management Data Breach 54

PYMNTS

MAY 25, 2016

The Business Email Compromise is now a top concern for the enterprise and security providers alike, especially since regulators have released warnings against the crime. One startup wants to safeguard corporate email and has just received new venture capital to move forward with its efforts.

Email Compromise 40

Email Compromise Security Compromise Data Breach 40

PYMNTS

SEPTEMBER 14, 2020

The fallout continues to grow, with reports noting its slew of nonprofit and corporate customers have now been exposed to security threats as a result of data stolen in the Blackbaud breach. Cybersecurity experts at Breach Clarity now peg the number of clients impacted at 136. Blackbaud's data breach isn't unique, per se.

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Breach Multifactor Authentication Ransomware Email Compromise 52

PYMNTS

JUNE 26, 2018

High-profile data breaches and attacks have catapulted cybersecurity to the top of executives’ priority lists, and investments in cybersecurity solutions are soaring: The 2018 Harvey Nash/KPMG CIO Survey found businesses surveyed spend a combined $46 billion on cybersecurity every year. ”

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Cybersecurity Data Breach Breach Email Compromise 43

PYMNTS

MARCH 28, 2018

Less obvious, however, is the financial impact of data breaches, content abuse and similar cases. ” The multibillion-dollar losses incurred by Facebook “because of that breach in trust” are proof that content abuse and data breaches have clear financial impacts. Facebook recently came close, though.

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Security Data Breach Account Takeovers Breach 44

PYMNTS

FEBRUARY 6, 2019

The same can be said for cybersecurity expertise, particularly as corporate finance and accounting departments become larger targets for cyberattacks like the business email compromise or data breaches.

Accounts 74

Accounts Finance On-Demand Automation 74

PYMNTS

MARCH 1, 2017

Research released only days ago from Centrify found that two-thirds of surveyed companies have experienced at least five security breaches in the past two years, while separate analysis from the Identify Theft Resource Center and CyberScout have pegged 2016 as a record year for cyberattacks in the U.S.

Cybersecurity 48

Cybersecurity Phishing Email Compromise Breach 48

PYMNTS

JUNE 23, 2016

The impact from a data breach on an enterprise can be a mixed bag. 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. 2013, resulting in $3.1

Cybersecurity 40

Cybersecurity Data Breach Assessments Breach 40

PYMNTS

JANUARY 23, 2017

Its latest analysis, released in conjunction with the Identity Theft Resource Center, found an all-time-high number of data breaches, with 1,093 incidents recorded in 2016. But researchers questioned whether the increase is due to more breaches or simply more publicly available data on the topic.

Risk 43

Risk AFP Identity Theft Email Compromise 43

PYMNTS

MAY 12, 2017

This consumer concern translates to a decrease in confidence in large organizations—which is then exacerbated by data breaches and other security events. FBI Sees Wire Fraud Via Email Grow In 2016. “When consumers can’t open a bank account or access government services online without feeling anxiety, we’ve got a problem.”.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

PYMNTS

NOVEMBER 6, 2017

In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions. Meanwhile, the recently released PYMNTS Global Fraud Index , produced in collaboration with Signifyd, found that instances of global fraud increased by 5.5

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FS-ISAC Cybersecurity Account Takeovers NACHA 47

PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 million, in 2016 alone. with more than 16,800 victims recorded in 2016. What to Do About It.

Identity Theft 43

Identity Theft Wire Transfer Crime Email Compromise 43

PYMNTS

DECEMBER 24, 2018

It may seem like 2018 was the year of the fraudster, of bad guys and gals acting in concert to steal money, steal privacy and use data for any number of gains. In short, cumulatively, hundreds of millions of records breached. He described this as a “group of both business email compromise , BEC as it’s called, or CEO fraud.”.

Financial Crimes 65

Financial Crimes B2B Real Time Payments Crime 65

PYMNTS

FEBRUARY 16, 2018

The business email compromise scam saw an increase of 10 percent during those two years. Reports last year from the Association for Financial Professionals found 75 percent of businesses surveyed said they had fallen victim to check fraud in 2017, up from 71 percent in 2015.

Email Compromise 40

Email Compromise Debit Card Credential Scams 40

CB Insights

JULY 23, 2020

Past incidents from biotech and genealogy companies have dampened public trust in the privacy of health data. For example, in 2018, 23andMe entered a $300M deal to sell data to drug giant GlaxoSmithKline, while in 2019, MyHeritage experienced a data breach that exposed details from 92M+ accounts.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101