PYMNTS

NOVEMBER 18, 2019

In Ireland, police are sounding the alarm on the threat of B2B payments fraud after multiple businesses lost hundreds of thousands of dollars to business email compromise (BEC) scams. explained means “a return to the dark days of blameless victims losing their life savings to this devastating crime.” Meanwhile, in the U.K.,

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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. .” The tax department also is reportedly looking at how such activities might be addressed by the Indian Penal code.

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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. He allegedly filed tax returns for tens of thousands of dollars, using these invoices to support the filings. Department of Justice.

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PYMNTS

OCTOBER 7, 2019

This week’s B2B Fraud Tracker looks at the latest cases and allegations of fraud, which show rising sophistication in fraudsters’ tactics: internal bad actors are no longer acting alone, BEC scams are no longer reliant on chance and financial institutions face a growing trend in loan fraud. A New Twist On the BEC Scam.

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PYMNTS

FEBRUARY 22, 2019

Much has been said in this space about Business Email Compromise ( BEC ) scams, where bad actors frequently pose as corporate officials, directing targeted individuals to send money to different accounts, or they pose as suppliers and present phony invoices to be paid.

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PYMNTS

OCTOBER 2, 2018

They look for the best returns on investment (ROIs), measuring risk and reward behind the malevolence — and for now, at least, that means targeting enterprises large and small. He described this as a “group of both business email compromise, BEC as it’s called, or CEO fraud.” The bad guys and gals? Relationships Preyed Upon.

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PYMNTS

OCTOBER 10, 2018

Earlier this year, the FBI said the value of successful BEC scams has now surpassed $12 billion. It can cut down on returns and investigations, Mugford noted, but when it comes to the slippery slope of wire scams like the business email compromise, corporates and banks have to remain vigilant. Thieves attempted to steal $5.3

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