PYMNTS

AUGUST 17, 2020

In this week’s Data Digest, PYMNTS rounds up the latest cases and research into how corporates are being targeted with crimes like the business email compromise (BEC) scam, as well as how they’re fighting back. PYMNTS breaks down the numbers of the latest in B2B fraud below.

Business Email Compromise 94

Business Email Compromise Federal Trade Commission Scams Cybersecurity 94

PYMNTS

JANUARY 18, 2021

. $500,000 or more in fines may be issued to a Massachusetts woman who pleaded guilty to taking part in a BEC scam, according to a press release by the U.S. Department of Justice. An investigation discovered that, while the suppliers were real companies, the invoices supposedly issued by them were fraudulent.

Scams 87

Scams Business Email Compromise Email Compromise Federal Trade Commission 87

PYMNTS

SEPTEMBER 28, 2020

The Federal Trade Commission (FTC) found 184,000 instances of pandemic-related fraud had occurred in the United States since the end of August, resulting in the theft of more than $124 million,” per the new Playbook.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

JANUARY 21, 2021

According to the FTC, Americans issued over 200,000 complaints and lost more than $145 million in COVID-related scams alone. Particularly stunning this year was the volume of business email compromise (BEC) attacks, which, according to the FBI, is already a $2 billion-a-year business.

Email Compromise 72

Email Compromise Business Email Compromise FBI FTC 72

PYMNTS

FEBRUARY 14, 2020

The Cost of Love: Broken hearts club: Consumers report losing more than $200 million to romance scams last year, as estimated by the FTC. B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise. billion in losses were due to BEC fraud last year. That’s up 40 percent over 2018.

Business Email Compromise 52

Business Email Compromise Cross-Border Romance Scams FTC 52