Nanonets

NOVEMBER 14, 2023

Business Email Compromise (BEC) is a cyber threat that exploits the vulnerabilities of email communication. Perpetrators impersonate trusted entities, such as executives or vendors, employing social engineering techniques to coerce employees into compromising actions. What is Business Email Compromise (BEC)?

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

PYMNTS

JULY 30, 2018

A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. Last year, small business accounting company MYOB had its name used by phishing scammers who targeted small businesses. While there are several versions of the email, they all include the Square logo, according to reports.

Phishing 51

Phishing Scams Business Email Compromise Email Compromise 51

Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. Let’s look at what business email compromise attacks are and explore some of the many ways you can combat them. What Is a Business Email Compromise Attack? Reported losses in 2020 exceeded $4.2

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

Compromise 98

Compromise Debit Card Scams Smishing 98

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). If that’s not an option, Sethi recommended some guidelines that users can put into effect to protect themselves against 2FA phishing attacks.

Scams 58

Scams Credential Security Phishing 58

VISTA InfoSec

NOVEMBER 7, 2023

This reduction of the “single-factor” risk is critical in an era when cyber threats are growing daily, including: Phishing attacks : Cybercriminals trick users into revealing sensitive information, often by posing as trustworthy entities. System verification : The system checks the entered credentials. 5 - (2 votes)

Authentication 130

Authentication MFA Cybersecurity Credential 130

VISTA InfoSec

JUNE 21, 2023

Data breaches are affecting millions of people across the globe, with over 340 million records already compromised in 2023 headline cases and new incidents surfacing every week. You need to know if any data has been compromised and, if so, where it may have been shared.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

Fintech Review

DECEMBER 3, 2024

From cash and checks to digital wallets, these changes have revolutionised commerce and consumer behaviour. Traditional Payment Methods: Cash and Checks For centuries, cash reigned supreme as the primary payment method. Traditional Payment Methods: Cash and Checks For centuries, cash reigned supreme as the primary payment method.

Payment Solutions 97

Payment Solutions Payments Contactless Payments Online and Mobile Banking 97

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions.

Business Email Compromise 91

Business Email Compromise Scams Email Compromise Crime 91

PYMNTS

FEBRUARY 24, 2020

In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). Tax season is upon U.S. small businesses, and fraudsters are taking advantage.

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

PYMNTS

SEPTEMBER 28, 2020

“Fraudsters perpetrating such schemes often target individuals by phone, posing as bank officials, Internal Revenue Service (IRS) agents or public health administrators and asking for personal information or money in exchange for COVID-19 test kits, stimulus checks or work-from-home jobs.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

FICO

MAY 27, 2021

This includes phishing of personal and account-level information as well as compromising the PAN / CVV for use in a fast-following fraud attack. They can build and publish these scam web pages and send mass communications incredibly quickly, with little to no checks completed prior to their onboarding.

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98

PYMNTS

JULY 1, 2019

As noted in a report by FireEye, the bad guys are continuing to leverage a tactic known as business email compromise (BEC), where that method of communication seeks to impersonate persons of authority from within a firm, or alternatively, legitimate business partners, to requests funds be sent to accounts (and then of course, pilfered).

Business Email Compromise 61

Business Email Compromise Phishing Email Compromise Credential 61

PYMNTS

OCTOBER 7, 2020

Fraudsters perpetrating such schemes often target individuals by phone, posing as bank officials, IRS agents or public health administrators and asking for personal information or money in exchange for COVID-19 test kits, stimulus checks or work-from-home jobs. The Dark Web Likes Bitcoin, Too .

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

VISTA InfoSec

MAY 15, 2025

To learn more about SWIFT CSP, you may also check out our informative video on – What is the SWIFT Customer Security Programme (CSP)? Prevent Compromise of Credentials 4.1 Enhance Security Awareness and Training Train employees on phishing, social engineering, and cybersecurity best practices. Security Updates 2.3

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SWIFT Security Best Practices PCI DSS 100

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise. Next-Level Payments Security.

Scams 63

Scams Automation Phishing Email Compromise 63

PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . The pandemic has pushed us to do all things digitally while opening up new vectors of attack.

Money Laundering 111

Money Laundering Email Compromise AML Fraud Prevention 111

PYMNTS

FEBRUARY 20, 2020

In other corporate fraud news , phishing defense firm Agari has concluded an investigation on one of the largest fraud perpetrators in a long time: Exaggerated Lion. If a CFO had accounting experience, though, as opposed to banking or finance, they were more likely to blow the whistle, the study found.

Romance Scams 56

Romance Scams Email Compromise Business Email Compromise Phishing 56

Fintech Finance

NOVEMBER 6, 2024

Tighter Security: By offering biometric authentication, payment passkeys eliminate the risk of passwords being stolen or compromised, protecting shoppers from fraud and scams. When checking out, shoppers select their Mastercard card, either as a guest or from a securely stored card on file with the merchant.

Visa 98

Visa APACS Transactions Authentication 98

Stax

MARCH 4, 2024

SSL/TLS is a complex payment security practice involving two different kinds of encryption keys—for more detailed information, check out this guide. Innovations in social engineering scams, sometimes conducted through social media, and phishing emails are designed to get the user to divulge sensitive information.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

PYMNTS

FEBRUARY 8, 2019

most common) passwords and check them against millions of accounts. In another, phishing scams will fraudulently request an employee login to Uber or LinkedIn to steal those credentials. Yet, according to Pedersen, most professionals are still not educated on how to spot a phishing attack.

Phishing 66

Phishing Credential MFA Payment APIs and Integration 66

PYMNTS

SEPTEMBER 30, 2016

Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S.

Security 76

Security Breach Data Breach Cybersecurity 76

PYMNTS

NOVEMBER 23, 2020

Banks, merchants, issuers, processors — they’re all locked in combat with shadowy fraudsters that gain system access via phishing emails as easily as mice sneak into old houses. While technological advancements have revolutionized many aspects of operations, payroll and expense management are not [among] them.

Payroll 66

Payroll Payment APIs and Integration eWallet Phishing 66

PYMNTS

OCTOBER 29, 2020

Consumers have received warnings for years about the threat of card skimmers that can steal their debit and credit card data, and many have learned to check for the devices before inserting their cards into ATMs or swiping at self-serve gas station pumps. Find more on these and the rest of the latest headlines in the Tracker.

Credit Union 49

Credit Union Consumer Point-of-Sale (POS) Compromise 49

PYMNTS

OCTOBER 30, 2017

I really need a way to be able to check that you are who you say you are. These aren’t the older types of phishing emails, where consumers click on it and then respond in horror because they realize they’ve been grabbed,” said Krebs. The important focus is on two prongs: The first is when you come to me and ask for an account.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks. How Can Virtual Credit Card Fraud Affect Your Business?

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

PYMNTS

JULY 15, 2020

That’s bureaucratic code for “Regulators will be checking on ‘Know Your Patient’ (KYP) compliance in the near future.” They also note a recent spike in COVID-19-related phishing attempts.”. And that means communicating with those individuals who oversee the systems.” They should. Medical data theft is perhaps the ugliest kind.

Data Breach 58

Data Breach CCPA Breach Social Security 58

PYMNTS

OCTOBER 15, 2018

It’s a twist on the business email compromise (BEC) scam that typically involves scammers emailing business owners and seeking payment via wire transfer, ACH or paper check. “No legitimate business or utility will call you and ask you to make a payment using a Green Dot card,” AG Frosh said in a statement.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

PYMNTS

OCTOBER 3, 2017

Ahmed also noted that staff training and exercises to test employee response to phishing attacks are key ways companies can protect themselves against cybercrime. Combined card, remote banking and check fraud in Q1 2017 was 8 percent lower than in H1 2016, the company said last week.

Email Compromise 41

Email Compromise Scams NACHA Compromise 41

PYMNTS

APRIL 2, 2019

Spend control isn’t easy — just ask Google and Facebook, which confirmed in 2017 they were among the corporate victims of a widespread phishing attack that tricked businesses into paying fake invoices. The scam wasn’t a one-off job, either. In the world of procurement spend management, data is undoubtedly key.

Email Compromise 59

Email Compromise Scams Phishing Correspondent 59

PYMNTS

MAY 6, 2020

Sharing information is critical for interconnected FIs because it allows them to access lists of data that may have been stolen or compromised, and they thus do not have to rely solely on their own anti-fraud measures to stop bad actors. One recent breach at U.S. Technology is only as good as the data it is allowed to access, however.

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

FICO

SEPTEMBER 17, 2018

They exploited and succeeded in compromising two of the bank’s payment systems – the ATM Switch and the SWIFT payments system. Solutions for passive scanning (like the FICO® Cyber Risk Score ) can check how strong or weak an organizations cybersecurity posture is. Cosmos Bank in India recently had $13.5 The post $13.5M

Cybersecurity 45

Cybersecurity Multi-Currency MFA ATM 45

PYMNTS

MARCH 21, 2019

Many healthcare providers’ systems offer smartphone apps enabling users to schedule appointments with primary doctors, check in for appointments, chat with nurses or review test results. On the other hand, biometric data is more difficult to compromise and does not have be remembered.

Authentication 43

Authentication Compromise Phishing Database 43

PYMNTS

APRIL 12, 2019

Thus, business email compromise fraud (BEC) is evolving too. The Association for Financial Professionals ( AFP ) found that although automated clearing house transactions are generally regarded by CFO.com to be relatively “safer” than other types of transactions — say, paper checks — fraud involving ACH is on the rise.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

Seon

MAY 23, 2024

Traditional anti-fraud methods, like device checks, two-factor authentication (2FA), biometrics and security questions, are outdated against emerging innovative technologies that are compelling new forms of sophisticated fraud.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

Center for Payments

NOVEMBER 21, 2023

The FBI warns consumers to be on the lookout for fake websites, counterfeit products, and phishing emails that appear to be coming from trusted retailers that consumers normally engage with. Charity Scams Scammers are aware of the “giving season” and will often create fake crowdfunding campaigns and charities to exploit people’s goodwill.

Holiday Scams 40

Holiday Scams Scams FBI Federal Trade Commission 40

Nanonets

MAY 31, 2023

Phishing Attacks: Fraudsters send deceptive emails or messages, often mimicking reputable organizations, to trick employees or customers into revealing their payment details. In 2021, a staggering 323,972 internet users worldwide became victims of phishing attacks, indicating that half of the cybercrime victims fell prey to this method.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52