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How Financial Institutions Can Combat Business Email Compromise (BEC)

Fi911

Business email compromise attacks cost organizations $2.4 billion in 2021 alone , according to the FBI’s Internet Crime Complaint Center. Attackers compromise vendor email accounts, then send updated banking instructions just before scheduled payments. Continuous monitoring catches compromises early.

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Protecting Seniors from Payment Scams: What You Need to Know

Innovative Payments Association

Tech Support Scams: Fraudsters pose as representatives from well-known tech companies, claiming that a senior’s device or account has been compromised. Report Suspicious Activity: If you suspect fraud, report it to your bank, payment provider, and law enforcement immediately.

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FBI Arrests 74 People For Business Email Compromise Scams

PYMNTS

Federal authorities including the Department of Justice and the FBI announced Monday (June 11) that law enforcement arrested 74 people in the U.S. and overseas for engaging in international business email compromise schemes aimed at intercepting and stealing wire transfers from individuals and businesses.

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Japan’s Uniqlo Hacked; 460K Accounts Compromised

PYMNTS

Japan’s Fast Retailing, the company that owns the Uniqlo retail chain, said that data from upwards of 460,000 customer accounts was compromised by hackers from April 23 to May 10, according to a report by CNBC. law enforcement authorities and cooperated with the federal agencies.”.

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What to do if your company suffers a data breach

VISTA InfoSec

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. This must be done using the electronic notice forms online.

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Data Shows 41 Pct Hike In Ransomware Attacks In 2019

PYMNTS

Anything of value that is smart and connected can be compromised and held for ransom,” said Steve Grobman, the chief technology officer at McAfee. “If In its most recent warning, the FBI said cyberattacks were becoming “more targeted, sophisticated, and costly.”. and Europe.

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Hacker Arrested In Capital One Breach Affecting 100M+ 

PYMNTS

The company said it discovered July 19 that there was unauthorized access and fixed the configuration vulnerability, then immediately notified federal law enforcement. The breach impacts about 100 million individuals in the United States and around 6 million in Canada.

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