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How Financial Institutions Can Combat Business Email Compromise (BEC)

Fi911

Business email compromise attacks cost organizations $2.4 Attackers compromise vendor email accounts, then send updated banking instructions just before scheduled payments. Executive impersonation hits treasury operations particularly hard. Continuous monitoring catches compromises early.

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PayDo ‘Team Members’ Ensures All Teams in a Firm on the Same Page Without Compromising Efficiency

The Fintech Times

Andrii Faier, product manager at PayDo We designed the Team Members Feature with one goal in mind: to empower businesses to manage finances collaboratively without compromising on control or compliance, said Andrii Faier , product manager at PayDo.

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PayDo Releases Team Members Feature for Business Accounts

Fintech Finance

“We designed the Team Members Feature with one goal in mind: to empower businesses to manage finances collaboratively without compromising on control or compliance,” said Andrii Faier, Product Manager at PayDo. Why It Matters Manual workflows and the bureaucracy of permission control can stagnate the once-efficient workflows.

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FBI Arrests 74 People For Business Email Compromise Scams

PYMNTS

and overseas for engaging in international business email compromise schemes aimed at intercepting and stealing wire transfers from individuals and businesses. Since the Internet Crime Complaint Center (IC3) began tracking BEC and its variant, e-mail account compromise (EAC), there has been more than $3.7 Postal Inspection Service.

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American Fintech Council Calls for Treasury to Back Innovation by Enhancing Regulatory AI Clarity

The Fintech Times

The American Fintech Council , the industry association representing responsible fintech firms and banks, has recommended a number of measures to develop a pragmatic regulatory framework for AI to the Department of the Treasury. In June, the Treasury Department issued a request for information on the use of AI in financial services.

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Trojan Stablecoin: What Circle’s NYSE Listing Really Signals

Finextra

The world is entering a new monetary epoch - one in which digital assets will sit alongside sovereign debt in institutional portfolios , and where transparent, composable financial instruments will become baseline infrastructure for treasuries and funds. Stablecoins are not just payment mechanisms. That’s where the real liquidity will flow.

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Treasury Dept. To Banks: We Need The 411 On Cyberattacks

PYMNTS

The details that have to be included in these confidential reports are determined by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). This information must include a description of how the system was breached, device identifiers and the IP addresses of any computers compromised by hackers.