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. A new notice from the FBI continues its crackdown of the scheme and pinpoints what reports call “ground zero” for the scam.

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

NOVEMBER 2, 2018

Bank statements have shown that payments to Oil Tank continued for years after the terminal’s completion. As many as 28 percent said they would proceed with requests for payment done via email and would not call suppliers to confirm the transactions. The Email Scam Lures More Victims.

Ransomware

PYMNTS

JANUARY 16, 2020

For instance, fraudsters can infiltrate the email systems of a firm’s legitimate suppliers to send emails from those vendor domains with a request for payment. 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

MARCH 22, 2016

News continues to circulate around the $101 Bangladesh bank heist that’s been catching headlines for the past two weeks. The government officials said whoever used the SWIFT transfer codes had the codes necessary to put in the request for payments during a weekend.

Fed

PYMNTS

JUNE 23, 2016

These insurance providers need tools to assess organizations to underwrite for breach insurance,” he continued. But far more common are those one-off scams that hit smaller companies, with hackers obtaining company data by hacking into email accounts at suppliers and sending fraudulent invoices and requests for payment.

Cybersecurity