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SonicWall: SMBs Suffer as AI Automation Tools Lower Barriers to Entry for Cyberattacks

The Fintech Times

Meanwhile, ransomware continues to rise, increasing eight per cent in North America and surging 259 per cent in Latin America. Nearly one third of all reported cyber events were business email compromise attacks – seeing a significant rise from only nine per cent in 2023.

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Invoice Fraud Strikes Amazon In $19M Scam

PYMNTS

This week's B2B Data Digest looks at the rising threat of the business email compromise (BEC) scam and invoice fraud on companies of all sizes in the U.S., A 60 percent increase in ransomware payments signals continued B2B payment attacks, according to the latest data from Coveware. Canada and the world over.

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SEC Issues Corporate Fraud Warning As BEC Scams Climb

PYMNTS

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. 233,817 is the average ransomware payment an organization pays to regain control of its systems, according to new data from Coveware.

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Fraudsters Try New Spins On The BEC Scam

PYMNTS

The Business Email Compromise (BEC) continues to evolve. The publication, citing Agari research, warned that the tactic makes BEC scammers’ messages all the more convincing. BEC is not the only cyberattack causing corporate losses, however, as ransomware threats continue to ramp up as well.

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Bottomline Helps Small Businesses Apply For COVID-19 Relief Funding

PYMNTS

Researchers said the findings underscore the acknowledgment that fraudsters are stratifying their methods to optimize returns by automating and scaling attacks. Automated attacks such as ransomware, business email compromise, and system-level takeover fraud, outpaced high-touch attack methods such as check fraud, the survey said.

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From The Phone To Email: How Scammers Hit SMBs

PYMNTS

It’s a twist on the business email compromise (BEC) scam that typically involves scammers emailing business owners and seeking payment via wire transfer, ACH or paper check. Researchers advised small business owners to not download any email attachments from an unnamed address.

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New Cyberattacks Surface To Steal Corporate Funds

PYMNTS

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. As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR).