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US Probes Hack Of Treasury, Commerce Department

PYMNTS

Department of the Treasury , the U.S. Reuters quoted a Commerce Department spokesman as having stated: "We have asked the Cybersecurity and Infrastructure Security Agency and the FBI to investigate, and we cannot comment further at this time.". Attacks by hackers linked to the Russian government against the U.S.

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FBI Arrests 74 People For Business Email Compromise Scams

PYMNTS

Federal authorities including the Department of Justice and the FBI announced Monday (June 11) that law enforcement arrested 74 people in the U.S. In a press release , the federal law enforcement agencies said the effort, dubbed Operation Wire Wire, also included the Department of Homeland Security, the Department of the Treasury and the U.S.

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Malware Hits Banks By Mimicking Video Conferencing App

PYMNTS

Treasury Office of Terrorism and Financial Intelligence issued an alert about the surge in ransomware attacks. Ransomware attacks jumped 37 percent last year, with losses up 46 percent, according to FBI statistics. Earlier this month the U.S.

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How Financial Institutions Can Combat Business Email Compromise (BEC)

Fi911

billion in 2021 alone , according to the FBI’s Internet Crime Complaint Center. Executive impersonation hits treasury operations particularly hard. Local FBI offices and Secret Service units specialize in financial crimes, but they need quick notification and comprehensive documentation.

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Experts: US House Examines Legislative Actions To Combat Cybercriminals

PYMNTS

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat. ” A memo included with the subcommittee’s documents also pointed to the U.S.

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US Warns Of North Korean Cyber Threats

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The FBI joined the departments of Homeland Security, State and Treasury in issuing a joint advisory on Wednesday (April 15) about increased cyber threats from North Korea.

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Tax Season Adds Extra Fraud Weight For SMBs

PYMNTS

73 percent of corporates say fraud threats rose last year , according to Bottomline Technologies’ latest Treasury Fraud & Corporate Controls survey report. 75,000 is the average loss of a BEC scam , new data from the FBI has revealed. Analysis of BEC complaints filed in 2019 found that BEC scams accounted for nearly half of the $3.5