PYMNTS

SEPTEMBER 8, 2020

80,000 is now the average amount phishers demand from their business email compromise targets , according to new research from the Anti-Phishing Working Group (APWG) in its second-quarter 2020 Phishing Activity Trends Report. million per targeted attack. The solution is an overlay service, which is mandated for the U.K.'s

Business Email Compromise

PYMNTS

JANUARY 26, 2017

B2B payments have a reputation for being slow to innovate , though the last couple years has challenged that notoriety. Faster payments initiatives, blockchain and other disruptions all show promise to make major changes in the B2B payments space. Regulation Throws FinTech Off-Guard.

B2B

PYMNTS

OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3 counterparts are not available.

Wire Transfer

PYMNTS

OCTOBER 2, 2018

He described this as a “group of both business email compromise, BEC as it’s called, or CEO fraud.” The intent is to get the company to pay out a large payment — unwittingly, of course — to criminals, and it would be the first time they paid anything to the (supposedly legit) recipient. Relationships Preyed Upon.

Money Laundering

PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay. How Fraudsters Attack.

Same Day ACH

PYMNTS

MAY 3, 2016

With the globalization, interconnection and acceleration of the world’s payments systems, the strategies of cyberattacks are likely to grow more sophisticated. B2B payments and payroll were cited as two of the strongest use cases for Same Day ACH, NACHA said. It puts the FI in an interesting position,” he explained.

Same Day ACH

PYMNTS

NOVEMBER 6, 2017

During the simulation, participants reacted to different types of hacks, including leaked CEO emails, compromised financial and health records and infrastructure attacks that left some employees stuck in elevators. TO DOWNLOAD THE NOVEMBER EDITION OF THE PYMNTS FASTER PAYMENTS TRACKER™ , POWERED BY NACHA, CLICK THE BUTTON BELOW. .

FS-ISAC

PYMNTS

MAY 7, 2018

In corporate payments, while fraud is typically linked to wire and checks , the rise in Business Email Compromise (BEC) and account takeovers means ACH fraud is a growing threat, same-day or not. payments system, corporates have to act quickly.

Same Day ACH

PYMNTS

JULY 16, 2019

The business email compromise (BEC) already takes advantage of email security vulnerabilities or deploys a social engineering strategy to convince accounts payable professions or other executives to pay a fake invoice into a fraudster’s account.

Security

PYMNTS

DECEMBER 24, 2018

He described this as a “group of both business email compromise , BEC as it’s called, or CEO fraud.”. And, as of now and looking ahead, among the more prevalent criminal methods focused on business, according to Divitt: new relationship fraud. So beware, or at least view skeptically, what is in your inbox.

Financial Crimes

PYMNTS

APRIL 5, 2019

Call it honor among thieves — and as Webster noted, the age of faster payments has made it increasingly harder for authorities to recover those ill-gotten gains. Group three may be hackers who go in and harvest the data — the credit cards, for example. And as for these far-flung groups getting paid? What to Do.

FBI