PYMNTS

JANUARY 18, 2019

As reported late this week in Dark Reading , and as estimated by security research firm Agari , efforts are “ramping up” wherein criminals look to “divert payrolls” of senior executives. A pair of studies have shown that companies are increasingly being targeted through methods both sophisticated and decidedly mundane.

Business Email Compromise 69

Business Email Compromise Scams Payroll Audit 69

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer.

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

SEPTEMBER 14, 2017

Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. Here’s the problem: The professional who falls victim to eInvoice scams like the business email compromise is, more often than not, a C-Suite executive. Additional Attacks Putting the Enterprise at Risk.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

DECEMBER 8, 2020

According to cybersecurity experts, email scams rise during the holidays, with business email compromise (BEC) an especially concerning scam. The FBI also noted that this scam can often be coupled with other types of fraud, sometimes coming in the form of BEC in which a scammer requests a wire transfer or other payment be made.

FBI 71

FBI Business Email Compromise Scams Mitigation 71

PYMNTS

APRIL 30, 2018

” In a survey of treasurers, cash management professionals, CFOs and other professionals in the treasury department, researchers found that nearly two-thirds of respondents (61 percent) feel they are in a better position this year to combat fraud within their organizations compared to last year. “There is a lot more to be done.”

Email Compromise 59

Email Compromise Ransomware Treasury Wire 59

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Research recently released from Sage found a tenth of B2B invoices sent by small- and medium-sized businesses are paid late or never paid at all, and the problem accounts for up to $3 billion in late payments to SMB payers worldwide.

Accounts 44

Accounts Wire Transfer Wire Wires 44

PYMNTS

JUNE 14, 2018

Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 Business identities can be used to open card accounts, initiate wire transfers or commit tax fraud. million, in 2016 alone. with more than 16,800 victims recorded in 2016. . What to Do About It.

Identity Theft 43

Identity Theft Wire Transfer Crime Email Compromise 43

PYMNTS

APRIL 14, 2017

In its 2017 AFP Payments Fraud Survey , researchers noted a “dramatic” increase in corporate payments fraud compared to levels seen in 2015. Carlsson noted earlier research released by the AFP for its analysis of the use of electronic payments among corporates. Where we stand right now, we’re at the peak level of payment fraud.”.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

JUNE 20, 2016

Examine the latest research to grasp just how cumbersome modern cash management can be. $3 Cybercrime involving email scams are on the rise, as businesses and their AP officials receive these fraudulent emails that seemingly request legitimate money transfers by posing as a corporate executive or a supplier requesting payment.

Email Compromise 41

Email Compromise Bitcoin APACS Wire Transfer 41