Fi911

JUNE 9, 2025

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. Executive impersonation hits treasury operations particularly hard.

Email Compromise

PYMNTS

JUNE 12, 2018

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. Postal Inspection Service.

Email Compromise

PYMNTS

FEBRUARY 24, 2020

73 percent of corporates say fraud threats rose last year , according to Bottomline Technologies’ latest Treasury Fraud & Corporate Controls survey report. 2,100 corporates were targeted in a widespread business email compromise (BEC) scam recently uncovered by cybersecurity company Agari , the firm revealed last week.

Business Email Compromise

PYMNTS

JANUARY 9, 2019

While financial services (FinServ) innovations often emerge with built-in security measures, new market trends — including faster payments and open banking — are introducing new security threats to corporate treasury departments, according to cybersecurity company BioCatch. BioCatch pointed to this risk in its blog post, too.

Faster Payments

Center for Payments

NOVEMBER 21, 2023

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. The FBI reports, “Charity scam solicitations may come through cold calls, email campaigns, crowdfunding platforms, or fake social media accounts and websites.

Holiday Scams

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 theft happened in July of this year and is being investigated by the Treasury Department. city government.

Business Email Compromise

FICO

JANUARY 10, 2023

As Debbie Cobb explained, card skimming is big business; the FBI estimates that “skimming costs financial institutions and consumers more than $1 billion each year.” In 2022, we saw an alarming increase in the number of compromised cards, as monitored by the FICO’s Card Alert Service. Source: KTVU Fox 2 .

Scams