PYMNTS

JANUARY 13, 2020

This week, however, a rundown of the latest B2B payment scams finds that it’s not only external bad actors, but entities’ own internal personnel that is often the cause of fraudulent activity.

B2B

PYMNTS

NOVEMBER 18, 2019

Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk of payments fraud — and governments are taking steps to react accordingly. cybersecurity technology companies are taking measures to raise awareness and combat corporate payment fraud risks.

Business Email Compromise

PYMNTS

NOVEMBER 9, 2017

Payments System Regulator (PSR) is taking steps to address the 100 payment scams hitting consumers and businesses every day. Banks don’t reimburse their consumer and business customers hit by such a scam, unlike reimbursements made for fraudulent payments on card products, reports in the Telegraph explained.

Scams

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. billion from unsuspecting companies. According to reports, funds wired are rarely recovered.

FBI

PYMNTS

FEBRUARY 3, 2020

When it comes to B2B payment scams , it’s not only outsiders but entities’ own internal personnel that is often the cause of fraudulent activity. More than 60 bank accounts were used for “circular transactions to make them appear genuine,” according to reports.

Scams

PYMNTS

NOVEMBER 6, 2017

Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime. According to the publication, scammers using the BEC, in which a fake invoice is sent to a company with request for payment, have stolen “large sums of money” from art galleries in the U.K.

Scams

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