PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. 155 percent more cases of invoice and payment fraud hit organizations from Q2 to Q3 , the latest analysis from Abnormal Security has found.

Business Email Compromise

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions.

Business Email Compromise

PYMNTS

AUGUST 17, 2020

In this week’s Data Digest, PYMNTS rounds up the latest cases and research into how corporates are being targeted with crimes like the business email compromise (BEC) scam, as well as how they’re fighting back. That access allowed the accountant to make payments from the business to her own personal account, reports said.

Business Email Compromise

PYMNTS

OCTOBER 15, 2018

A recent string of attacks in the state has seen criminals seeking payment via prepaid card solution Green Dot , urging small business owners and professionals to load money onto the Green Dot card and sent it to them. “This is a scam, pure and simple. That’s because this malware masquerades as a legitimate online banking portal.

Ransomware

PYMNTS

JULY 1, 2019

In payments fraud, it pays — literally — to change up the game a bit. billion emails that spanned the first three months of this year showed there were more URL-based attacks than attachment-based ones. The aim is to steal credentials or credit card data. The data across a sample set of 1.3 Beyond the confines of the U.S.,

Business Email Compromise

PYMNTS

JUNE 3, 2020

Tharle said real-time payments have increasingly seen adoption across the globe, as seen in volumes reported in Europe, Australia and the U.S. Real-time payments, he said, “increase the attack surface” for fraudsters and are attractive for two reasons: speed and the fact that the payments are irrevocable.

Business Email Compromise

PYMNTS

AUGUST 24, 2020

The business email compromise (BEC) scam continues to rear its ugly head at the enterprise, with the global pandemic creating even more avenues through which cyber attackers can steal company money. At the heart of BEC and other scams is impersonation.

Deepfake

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise. Other companies were less prepared and expected to struggle to process invoices and miss some payments.

Scams

PYMNTS

APRIL 4, 2019

Meanwhile, instances of the Business Email Compromise (BEC) are also on the rise: About 47 percent of all incidents examined last year were the result of a hack or malware — and, of those, about half were BEC scams. Through the spear phishing campaign, an unwilling employee inputs those credentials for the criminal.

Ransomware

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. Payroll diversion has become a significant form of payments fraud as well — in this case, the bad actors snare login credentials from employees, and change direct deposit information.

Business Email Compromise

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. Compare that to ransomware, which made up just 11 percent. Attackers then use that malware to access bank accounts.

Ransomware

PYMNTS

APRIL 12, 2019

Thus, business email compromise fraud (BEC) is evolving too. Said Adrien Gendre, chief solution architect for Vade Secure, on the site: the email scams “are not isolated, that’s for sure.”.

Business Email Compromise

PYMNTS

JANUARY 16, 2020

The business email compromise (BEC) scam is a cybersecurity threat to businesses of all sizes, and the financial and security implications of a successful attack aren’t isolated to its target. Electronic payment technologies, too, are increasingly focused on security and fraud mitigation efforts.

Business Email Compromise

FICO

APRIL 29, 2022

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. Some of the changes are related to new digital payments methods like P2P apps, tap-to-pay, and cryptocurrency, which are all growing options in retail environments.

Retail Payments

PYMNTS

MAY 2, 2019

Twenty-nine percent said payment data was compromised, while nearly one-quarter said proprietary company data was exposed. The report also pointed to data stolen from law firms and cyberattackers’ ability to use that information to obtain employee credentials about pending deals. million business email compromise scam.

Data Breach

PYMNTS

FEBRUARY 16, 2018

The two were part of a larger group that stole online credentials, personal information and credit and debit card numbers between 2005 and 2012. The business email compromise scam saw an increase of 10 percent during those two years. The two pled guilty in September 2015.

Email Compromise

PYMNTS

APRIL 5, 2019

When it comes to combating payments fraud, it helps to have insight from one who’s been in the trenches. Yes, said Arruda, the FIs spend tremendous amounts of money on cybersecurity defense … but when an unwitting employee clicks on the wrong email, “all that money goes down the tubes,” said Arruda. What to Do.

FBI

PYMNTS

APRIL 9, 2018

Likewise, cybersecurity tools are limited when stopping other employee behaviors that lead to data breaches, like sending credentials or money to bad actors and fraudulent accounts. IBM warned that some of the most common human errors linked to data breaches involve “basic misjudgment.” To err is human,” IBM said in its report.

Data Breach

PYMNTS

MAY 5, 2017

In the travel technology company’s Q1 earnings filing , Sabre wrote that they are “investigating an incident involving unauthorized access to payment information contained in a subset of hotel reservations processed through the Sabre Hospitality Solutions SynXis Central Reservation system.”.

Breach

PYMNTS

JUNE 23, 2016

For some, like small suppliers, a compromise of sensitive data and credentials can lead to a few hundred or thousand dollars fraudulently obtained from a business client, often via the Business Email Compromise scam. The impact from a data breach on an enterprise can be a mixed bag. 2013, resulting in $3.1

Cybersecurity

PYMNTS

JUNE 1, 2017

Take the Business Email Compromise, for example. That’s because cyber attackers aren’t just using automated, malware-first approaches to their crimes anymore.

Cybersecurity

The Payments Association

FEBRUARY 17, 2025

According to the Veriff Identity Fraud Report 2025, these sophisticated cyber threats have surged by 46% in just one year, targeting payments platforms in particular. When the victim enters their credentials, the attacker captures these details and may steal session cookies to bypass multifactor authentication (MFA).

Phishing