EBizCharge

JULY 31, 2025

Understanding the B2B Payment Landscape in NetSuite B2B payments come in all forms: ACH transfers, checks, credit card payments, and wire transfers. If you have customers who always pay by wire, build that into their vendor record. Each method brings its own timing, risk, and workflow requirements.

B2B

The Payments Association

JULY 11, 2025

The payment industry specifically saw 269 million compromised card records , emphasising the existential risk of inadequate security measures. Wired point-of-sale systems are identified explicitly as key IoT end nodes driving this growth, alongside industrial and consumer IoT expansion. Average global data breach costs hit US$4.9

Point-of-Sale (POS)

Finextra

JUNE 26, 2025

Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials. This type of fraud can lead to financial losses, identity theft, and reputational damage for both individuals and organizations.

Stablecoins

Finextra

JUNE 26, 2025

Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials. This type of fraud can lead to financial losses, identity theft, and reputational damage for both individuals and organizations.

Stablecoins

Nanonets

OCTOBER 27, 2024

. - Traditional Ignition: To start a car without keys, remove the steering column cover, locate and strip the battery, ignition, and starter wires. Connect the battery and ignition wires to turn the car "ON," then briefly touch the starter wire to start the engine.

Laws

VISTA InfoSec

MAY 12, 2024

When used, these devices will collect payment details without the merchant’s knowledge, compromising customer data security. To solve this problem, you must routinely inspect all POS hardware for signs of tampering, looking out for strange wires or additional devices attached to card readers or terminals.

PCI DSS

PYMNTS

OCTOBER 10, 2018

Rarely does the wire transfer come into play as an exciting, innovative payment rail ready to disrupt cross-border B2B payments. The wire transfer, made popular by Western Union more than 150 years ago, may not seem to be the most innovative rail. Thieves attempted to steal $5.3

Wire Transfer

PYMNTS

JUNE 12, 2018

and overseas for engaging in international business email compromise schemes aimed at intercepting and stealing wire transfers from individuals and businesses. million and the caused the disruption and recovery of about $14 million in fake wire transfers. Of the 74 arrested, 42 were people in the U.S.,

Email Compromise

PYMNTS

APRIL 14, 2020

With the business email compromise (BEC) phishing attack a continuously growing threat for businesses large and small, organizations are exploring how strategic cybersecurity investments can protect them when bad actors attempt to steal company cash or redirect business payments.

Email Compromise

PYMNTS

JUNE 15, 2016

The FBI is warning about the increasing risk of wire transfer fraud. As part of its newly launched public awareness campaign on wire transfer fraud, the FBI provided tips to help companies detect and fight the threats. Billion | The amount hackers have attempted to steal from businesses using wire fraud between October 2013-May 2016.

FBI

PYMNTS

OCTOBER 9, 2020

The wire service said a Robinhood statement indicated that the company’s internal systems were not compromised and that they are “actively working with those impacted to secure their accounts.”. 9) that hackers may have gained information about customers' personal email accounts, Reuters reported.

Wire

PYMNTS

APRIL 15, 2019

Most companies “have put processes in place to validate big wire transfers, so now [criminals] want to stay under the radar. They then sent malicious emails from these addresses to the compromised contact lists. Through this method, they sent tens of millions of malicious emails.”.

Money Laundering

PYMNTS

MAY 8, 2017

Cyber wire fraud via email had increased during the last seven months of last year, according to a new warning from the Federal Bureau of Investigation. The schemes are known as business email compromises. billion from October of 2013 through December of 2016. billion from October of 2013 through December of 2016.

FBI

PYMNTS

SEPTEMBER 30, 2019

companies via the Business Email Compromise scam, reports in The East African said last week. Through Operation reWired, we are sending a clear message to the criminals who orchestrate these Business Email Compromise schemes that ‘I will keep coming after you, no matter where you are.’”.

Email Compromise

PYMNTS

FEBRUARY 1, 2021

40 legitimate email accounts of company executives have been compromised in a phishing campaign targeting businesses , according to Gov Info Security reports. An individual has pleaded guilty to wire fraud, bank fraud and money laundering charges. The scam involves sending a phishing email claiming to be a Microsoft Office 365 update.

Data Breach

PYMNTS

SEPTEMBER 11, 2019

But that message is apparently lost on criminals, who, according to a new report, have stolen some $26 billion over the last three years in a scam generally known as “ business email compromise.”. This is not the first time the FBI has sounded a warning about business email compromise. Federal Bureau of Investigation. Fraud Trends.

Scams

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. The attacker used Office 365 because of the reduced suspicion and to avoid malicious detection systems, according to the post.

Business Email Compromise

PYMNTS

DECEMBER 23, 2020

Wire transfers are a common method through which these workers receive cross-border payments and these payments can present numerous problems, even if they go smoothly. The flexibility freelancers value often fails to manifest in their payments experiences, however.

Cross-Border Payments

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. What happens if your users receive an email from a cybercriminal pretending to be your CEO requesting an urgent wire transfer?

Phishing

PYMNTS

JANUARY 13, 2020

That means the vast majority of businesses are at risk for an array of cybersecurity incidents, including the Business Email Compromise (BEC), which often sees fraudsters spoofing legitimate email addresses from vendors, and sending seemingly real requests for payment.

B2B

PYMNTS

APRIL 26, 2019

Business email compromise (BEC) scams are gaining traction, and bilking unwitting individuals and companies out of an increasing amount of money. No other financial data or student-related data had been compromised, according to the report. billion in 2018. billion in 2018.

Business Email Compromise

PYMNTS

NOVEMBER 13, 2020

Many firms still process cross-border transactions through wire transfers. A large portion of cross-border B2B transactions are sent via wire transfers: 69 percent of businesses tapped this method for cross-border payments in 2019. Fraud scams targeting these wire transfers have long been an issue, with U.S.

Cross-Border

PYMNTS

OCTOBER 17, 2018

The SEC’s investigations focused on “business email compromises” (BECs), where criminals posed as company executives or vendors and used emails to trick employees into sending large sums to fraudulent bank accounts. In total, the nine companies wired nearly $100 million as a result of the frauds, most of which was unrecoverable.

Cybersecurity

PYMNTS

MAY 1, 2017

Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam. The DoJ alleges that the man, Evaldas Rimašauskas, used a business email compromise (BEC) scam to trick Facebook and Google into paying fake invoices, impersonating manufacturer Quanta Computer.

Scams

PYMNTS

APRIL 30, 2018

According to the report, 29 percent that have experienced a system-level wire fraud attack have suffered a loss as a result. Fraudsters can automate the process by which they infiltrate email accounts and learn to speak like a CEO or CFO to initiate a fraudulent wire transfer, a scam known as the business email compromise (BEC).

Email Compromise

PYMNTS

JUNE 9, 2020

The number of Nintendo accounts compromised by hackers was nearly double the amount reported two months ago, according to TechCrunch. On Tuesday (June 9), Nintendo confirmed that another 140,000 accounts were compromised. The Nintendo Network provides games and content via the internet and can contain credit card numbers.

Accounts

PYMNTS

JULY 20, 2016

The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and invoices requesting firms to wire funds. The email requests a wire transfer for goods or services, with a convincing enough note to not raise suspicion, and then, payment is made.

FBI

PYMNTS

SEPTEMBER 24, 2019

With billions of compromised credentials exposed online, there is a high likelihood that most users of the U.S. financial system have had some information about themselves … compromised at some point.”. There are also a lot of illegal activities involved with wire, credit card and automated clearing house (ACH) fraud. “By

Fincen

PYMNTS

SEPTEMBER 16, 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 in January.

FBI

EBizCharge

AUGUST 28, 2024

This fundamental component of the banking industry enables the correct routing of funds for transactions such as direct deposits, wire transfers, and electronic funds transfers (EFTs). ABA numbers are often used for traditional banking transactions, such as processing paper checks and initiating wire transfers.

Wire Transfer

EBizCharge

AUGUST 28, 2024

This fundamental component of the banking industry enables the correct routing of funds for transactions such as direct deposits, wire transfers, and electronic funds transfers (EFTs). ABA numbers are often used for traditional banking transactions, such as processing paper checks and initiating wire transfers.

Wire Transfer

PYMNTS

JANUARY 18, 2021

The individual is accused of conspiring to open bank accounts in the state for fraudulent companies in order to perpetuate the business email compromise (BEC) scam, which involves issuing fake invoices to companies' accounts payable departments. The individual pleaded guilty to wire fraud and money laundering conspiracy.

Scams

PYMNTS

MARCH 12, 2020

Today, we put that information in bank-to-bank wire instructions. Again, Reuter highlighted the opportunity for open banking frameworks and data sharing via API to facilitate access to data in real time without compromising the trust or security of customers and their information.

RTP

PYMNTS

JULY 6, 2020

This week’s look at the latest cases of B2B fraud finds a surge of business email compromise (BEC) attacks, as well as emerging trends in fraud related to government coronavirus relief efforts. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K. .” ” The U.K.

Business Email Compromise

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

Nanonets

SEPTEMBER 28, 2023

EFT is also typically cheaper than other methods of payment (such as wire transfer), and it's a convenient way to make recurring payments (such as monthly bills). Wire Transfers as EFT A wire transfer is an electronic transfer of funds between financial institutions. It’s fast, secure, and typically has low fees.

Electronic Funds Transfer (EFT)

Nanonets

SEPTEMBER 28, 2023

EFT is also typically cheaper than other methods of payment (such as wire transfer), and it's a convenient way to make recurring payments (such as monthly bills). Wire Transfers as EFT A wire transfer is an electronic transfer of funds between financial institutions. It’s fast, secure, and typically has low fees.

Electronic Funds Transfer (EFT)