PYMNTS

SEPTEMBER 16, 2019

As reported by NBC News , the investigations were confirmed, separately, by spokespeople for the FBI’s Albany, New York office and the labor department. The investigations are the latest wrinkles in a story that continues to develop after several employees small businesses said they did not get paid.

FBI

PYMNTS

OCTOBER 9, 2020

told PYMNTS that the FBI has found email fraud already costs businesses and individuals $3.5 Phishing scams continue to proliferate in the number of attacks and dollar value of losses.”. Business Email Compromise. Leigh Reichel , new chief financial officer of cybersecurity firm INKY Technology Corp. Spear Phishing.

B2B

PYMNTS

APRIL 5, 2019

Stacy Arruda, a former special agent with the FBI and now executive director of the state of Florida ISAO on cybersecurity, said that part of the problem is that when it comes to protecting credit unions — and really any financial institution — danger lurks in what they don’t know. The Great Trade-Off. Look at your security like an onion.

FBI

PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays. About $1 million was swindled from the Colorado town of Eerie , with the FBI now investigating the matter.

B2B

PYMNTS

MARCH 23, 2020

It’s too soon to tell how the coronavirus crisis will impact corporates’ financial and payment operations, but while analysts continue to raise the alert about consumer payments fraud, the risk of B2B payments fraud persists, particularly as more employees work from home.

Email Compromise

PYMNTS

OCTOBER 7, 2019

An FBI inquiry into the allegations is centered upon claims of fraudulent spend within SEPTA and misuse of the authority’s procurement cards — a common source of internal fraud for both private and public entities. “VEC is the next evolution of business email compromise. . A New Twist On the BEC Scam.

Scams

PYMNTS

JULY 30, 2019

The bank says it does not appear that the hacker had used the stolen information for fraudulent purposes, but investigators will continue to look into it. Capital One stressed that credit card account numbers and login credentials were not compromised, while more than 99 percent of Social Security numbers were not impacted.

Breach

PYMNTS

NOVEMBER 21, 2019

They poke and prod, looking for various weaknesses to be exploited on online platforms, in company emails (as in Business Email Compromise, or BEC), through text messages and even the old-fashioned phone call that induces a victim to hurry online and send some money. Internet scammers, by nature, are a resourceful lot.

Scams

PYMNTS

DECEMBER 6, 2016

KnowBe4 , a security awareness training and simulated phishing platform provider, launched a new tool designed to help IT managers combat CEO fraud, or Business Email Compromise (BEC) as it is referred to by the FBI. Those replies are then recorded and made available for IT managers to download and review if needed.

Phishing

PYMNTS

DECEMBER 8, 2020

According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. According to the FBI, professionals must be "wary" of online job postings that cater to the remote worker, with many of these posts having fraudulent intentions.

FBI

Fintech Finance

OCTOBER 24, 2024

Government impersonation scams: Consumers are falling victim to scams where fraudsters pose as representatives from the government, including agencies like the USPS, the FBI and the IRS. In the first three months of 2024, the average government impersonation scam victim in the U.S. lost $14,000 in cash, totaling more than US$20 million.

Scams

PYMNTS

JANUARY 13, 2020

Travelex said the malware was kept in check and customer data was not compromised. . Based on Travelex’s extensive internal assessments and the analyses conducted by its expert partners there, is no evidence to suggest that customer data has been compromised,” the company said.

Ransomware

PYMNTS

OCTOBER 14, 2016

In this week’s Hacker Tracker , we explore why hackers continue to have their eyes fixed on SWIFT and what other organizations are also working to fight off their malicious advances. The payment system of handbag company Vera Bradley may have been compromised by a massive data breach last month. Hackers Get Fashionable.

SWIFT

PYMNTS

JANUARY 21, 2021

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. Well-funded and organized fraud operations, meanwhile, continued to amass more capital, manpower and technology. It’s time to fight back. Businesses across the U.S.

Email Compromise

PYMNTS

DECEMBER 9, 2016

Filip Chytrý , threat intelligence researcher at Avast Software , defines Crimeware-as-a-Service as an automation of malicious cyberattacks — rather than hackers compromising vulnerable systems themselves, they can instead pay for already established botnets and other online interfaces to seek out and exploit vulnerabilities.

Monetary Loss

PYMNTS

AUGUST 16, 2019

We’ve invested heavily in cybersecurity and will continue to do so,” said a bank spokeswoman. Capital One stressed that credit card account numbers and login credentials were not compromised, while more than 99 percent of Social Security numbers were not impacted.

Caps

PYMNTS

JANUARY 31, 2018

We have been working closely with the FBI, cybersecurity experts and payment card brands to contain the incident and protect our customers’ payment cards,” National Stores Chief Executive Officer Michael Fallas said an announcement last Monday (Jan. as well as the credit card numbers of approximately 209,000 people.

Point-of-Sale (POS)

PYMNTS

JANUARY 18, 2019

Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

Business Email Compromise

PYMNTS

OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3 counterparts are not available.

Wire Transfer

PYMNTS

MAY 25, 2016

Apple’s encryption battle against the FBI may have simmered down, but Apple is not backing down on further bolstering the security of its devices. Callas’ appointment comes just weeks after the FBI spent $1.34 and Silent Circle, Reuters reported.

Encryption

PYMNTS

MAY 2, 2019

DOE continues to work with our industry partners through the ISACs to ensure the dissemination of the appropriate mitigation information to manage their associated risks.”. The hackers were able to compromise some of the targets, but the government didn’t provide information about any specific incidents.

FBI

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer.

Scams

PYMNTS

FEBRUARY 10, 2020

Beyond the mechanics of the hack itself it should be noted that the indictment might point to a new front on the continuing cyberwar that now involves state actors targeting the United States. and Canada were also compromised. The theft reached beyond U.S. borders, as data tied to about a million citizens of the U.K.

Compromise

PYMNTS

MAY 12, 2017

When prompted to continue to Google Docs, users were actually granting permissions to a malicious third-party web app that had been named “Google Docs.”. FBI Sees Wire Fraud Via Email Grow In 2016. told Reuters that the FBI report covered just 20 percent of the total and that the losses could be double.

Business Email Compromise

Center for Payments

NOVEMBER 21, 2023

Year after year, fraud continues to grow exponentially. Over 800,000 reports were received by the FBI’s Internet Crime Complaint Center (IC3) in 2022, representing $10.2 The FBI works to raise awareness of the types of scams that are common around the holidays and how you can protect yourself and your customers or members.

Holiday Scams

PYMNTS

JANUARY 12, 2017

While ransomware continues to be a go-to tactic for hackers for extorting and manipulating victims out of money, not everyone impacted is willing to just pay up. million ESEA users was compromised. According to the stolen database tracker LeakedSource , the information of nearly 1.5

Ransomware

PYMNTS

JULY 29, 2019

Business E-mail Compromise (BEC) fraud has been gaining ground and growing in terms of number of incidences, according to a recent report. The reviews, according to Fedweek.com “continue to identify patterns of purchase card transactions that do not comply with the Federal Acquisition Regulation and VA policies and procedures,” a report said.

Business Email Compromise

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. In its latest quarterly report , cybersecurity firm ProofPoint emphasized the continued reign of the bank Trojan — a strategy that accounted for 42 percent of the attacks analyzed by ProofPoint for the year’s second quarter.

Ransomware

PYMNTS

JANUARY 31, 2017

From baby monitors to smartphones and beyond, there’s virtually nothing that can’t be breached and/or compromised. If ransoms are paid without hesitation, Neate hypothesizes that this type of cyberattack will only continue and that there may be a possibility the funds are being used for criminal activity.

Ransomware

PYMNTS

JANUARY 16, 2020

The business email compromise (BEC) scam is a cybersecurity threat to businesses of all sizes, and the financial and security implications of a successful attack aren’t isolated to its target. It’s all in the name of siphoning company cash from accounts payable operations, and experts say the threat will continue to increase.

Business Email Compromise

PYMNTS

AUGUST 20, 2018

If the Federal Bureau of Investigation (FBI) is right, a whole other bad idea is about to be unleashed upon our collective bank accounts. Krebs on Security cited a confidential alert that the FBI sent to banks late last week, saying that millions of dollars can be stolen in only a few hours.

FBI

PYMNTS

NOVEMBER 13, 2020

The cross-border B2B payments space experienced a small drop in growth during the first half of 2020 due to the COVID-19 pandemic’s effects, but it is expected to continue expanding despite this hiccup. Fraud scams targeting these wire transfers have long been an issue, with U.S. companies losing roughly $1.77

Cross-Border

PYMNTS

OCTOBER 26, 2018

BEC, the acronym for business email compromise scams, is getting its share of attention. The warning on cybersecurity risk comes as the FBI has estimated that over the past five years, U.S. The SEC may urge caution, but victimization continues, even at the government level. firms have lost more than $5 billion to BEC scams.

Business Email Compromise

PYMNTS

AUGUST 20, 2018

And, if the Federal Bureau of Investigation (FBI) is right – a whole other bad new idea is about to be unleashed up our collective bank accounts. According to a Krebs on Security report, citing a confidential alert the FBI sent to banks late last week, millions of dollars can be stolen in only a few hours.

FBI

Clearly Payments

MARCH 4, 2024

From the Target data breach that compromised millions of customer accounts to the collapse of Wirecard AG following revelations of accounting fraud, these fraud events serve as stark reminders of the vulnerabilities within payment systems. Over 40 million credit and debit card accounts compromised.

Phishing

PYMNTS

APRIL 11, 2016

Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 The growth in compromised ATM incidences continued unabated through the past year, FICO noted late last week, with the total number of ATMs being hit rising as much as 546 percent year over year. billion since 2013.

ATM

PYMNTS

SEPTEMBER 9, 2019

In anecdotes reported by Tamebay, seller accounts have been compromised, the fraudsters buy URLs with similar addresses and tie an e-mail account to that address. million has been returned to the City of Unalaska in the wake of an investigation by federal authorities into business email compromise (BEC) fraud.

Business Email Compromise