PYMNTS

FEBRUARY 2, 2018

experts warned of a type of payroll scam that sees fraudsters diverting direct deposits from employee accounts to criminal accounts. In many circumstances, they are effectively spoofing the sender’s account, and employers are learning of the scam when employees begin reporting that they did not receive their direct deposits.

Direct Deposit 48

Direct Deposit Payroll Due Diligence Scams 48

PYMNTS

AUGUST 13, 2019

Amid the growing list of cybersecurity concerns businesses must keep on top of, payroll is a growing target for attackers both inside and outside the enterprise. The latest cases of payroll-related cyber incidents reveal the vulnerabilities of the financial process of compensating employees.

Payroll 60

Payroll Direct Deposit Phishing Cybersecurity 60

PYMNTS

APRIL 4, 2019

The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads. In one example of the attack, a fake employee email to human resources (HR) requests a change in direct deposit for wages to be sent into a new bank account.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

PYMNTS

OCTOBER 14, 2020

Using digital push payments can also help add security to B2B transactions, thanks to the cybersecurity measures that can be grafted into these processes. percent of payors surveyed are offering paper checks, direct deposit and credit cards as options for disbursements.

Instant Payments 103

Instant Payments Treasury Treasury Management Push-to-Card 103

PYMNTS

FEBRUARY 12, 2020

Another popular variation on BEC scams in 2019, according to the FBI, was the payroll diversion scam, where hackers use a spoofed or hijacked employee account to request that an employee’s direct deposit is routed to a new bank account, which usually ends up being a prepaid card that is emptied almost immediately after the deposit is made.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

MAY 30, 2016

Industry players, like Thomson Reuters, pointed to the need to include ACH direct deposit integration between accounts and payroll and to manage multiple payroll solutions, like checks and cards. With the rise in cloud-based accounting, however, this demand is on the rise. ”

Payroll 41

Payroll Direct Deposit ACH On-Demand 41

PYMNTS

MARCH 18, 2019

“Our industry used to be payroll, tax filing and direct deposit. ” Unfortunately, even with the latest cybersecurity technologies, human error is often to blame for data breaches and successful fraud attempts — making employee training just as important in combating payroll fraud, added Ferdowsi. ” he said.

Payroll 64

Payroll API Payment APIs and Integration Data Breach 64