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.

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Business Email Compromise Scams Crime Email Compromise 91

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. In other FBI-related anecdotes around BEC fraud, the bureau noted that scams also came from fraudsters who pretended to be real estate brokers. billion in 2018. In Ireland.

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Business Email Compromise FBI Scams Wires 57

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.

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Scams Automation Phishing Email Compromise 63

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. How To Retain Security.

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Deepfake Business Email Compromise Scams Multifactor Authentication 61

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. When it comes to fraud threats, no company — large or small — is immune.

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Business Email Compromise Federal Trade Commission Scams Cybersecurity 94

PYMNTS

OCTOBER 15, 2018

The scam entails a scammer posing as a legitimate business partner or vendor, claiming over the phone that the SMB owes them money, then demanding payment in the form of a Green Dot card. “This is a scam, pure and simple. “This is a scam, pure and simple.

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Ransomware Online and Mobile Banking Small Business Scams 77

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.

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Ransomware Phishing Direct Deposit Business Email Compromise 63

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. The BEC scam can manifest in many forms. It is so easy for attackers to pull off these kinds of scams,” he said.

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Business Email Compromise Security Scams Email Compromise 44

PYMNTS

JUNE 3, 2020

That’s especially important as criminals seek to use eCommerce to commit what might be termed “authorized fraud” as bad actors get hold of card details or log-in credentials, pose as legitimate account holders and send payments. Authorized fraud also encompasses business email compromise (BEC) scams, too, said Tharle.

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Business Email Compromise Email Compromise Real Time Payments Authentication 71

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.

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Ransomware Phishing Email Compromise Online and Mobile Banking 44

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.”. The BEC attempts are also relatively cheap campaigns to wage on firms.

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Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

AUGUST 30, 2017

It first emerged in March of this year, the company said, and was used mostly to steal online banking information and credentials to infiltrate bank accounts and steal money. Once the user clicks on the PDF file, the computer is infected and finds more email addresses to spread.

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Email Compromise Cybersecurity Small Business Consulting 49

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.

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Email Compromise Debit Card Credential Scams 40

FICO

APRIL 29, 2022

All these evolutions mean a changing landscape for retail fraud and scam trends. The New York Times recently ran a home page story on how criminals have concocted elaborate scams – complete with authentic ‘hold’ music – to impersonate bank customer service reps, tricking consumers into sending them money via Zelle.

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Retail Payments Zelle Consumer Romance Scams 52

PYMNTS

MAY 2, 2019

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. million business email compromise scam.

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Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

APRIL 5, 2019

The attacks are targeted ones, said Arruda, who noted that hackers don’t usually directly try to hack banks or credit unions, but instead try to get access through the aforementioned email campaigns, where the credentials are stolen and the stolen credentials are leveraged to gain access to the FI. What to Do.

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FBI Credit Union Credential Cybersecurity 50

PYMNTS

APRIL 9, 2018

Gemini Advisory, which first identified the breach at Hudson’s Bay, suggests human error was to blame: An employee likely clicked on a malicious link sent via a phishing scam. 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.

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Data Breach Breach Cybersecurity Phishing 49

PYMNTS

MAY 5, 2017

Radial found a 200 percent rise in Q1 of credit card testing—when stolen payment card credentials are ‘tested’ with small, innocuous buys before cybercrooks move on to larger fraudulent purchases. Google And Facebook Scammed Out Of $100 Million.

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Breach Business Email Compromise Data Breach Cybersecurity 45

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. Supplier email scams , the FBI said, are rising at massive rates.

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Cybersecurity Data Breach Assessments Breach 40