Sections
Business Email Compromise
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2.2KSecurity & FraudEmail B2B Scams Cost $26B Over Last Three Years
Email often gets overlooked in the 2019 digital economy, given the higher levels of excitement attached to social media, video and other,...
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2.9KB2B PaymentsToyota Unit Loses $37M To Vendor Payment Fraud
A subsidiary of automaker Toyota has lost millions of dollars thanks to a vendor payment scam, according to SC Media UK reports....
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4.3KB2B PaymentsBEC Fraudsters Eye HR Departments As Prey
Fraudsters are always evolving and now are training BEC scams to focus on HR and finance departments. Separately ACH debit and ACH...
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4.3KSecurity & FraudReport: BEC Fraud Increasingly Goes Mobile
The wiles and ways of scammers to part businesses from their money continue to proliferate, and continue to use technology as a...
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5.9KB2B PaymentsSEC Urges Corporate Accounting Changes Amid Rising BEC Scam Threat
As U.S. public companies brace for wide-ranging changes to accounting standards, the U.S. Securities and Exchange Commission (SEC) wants corporate accountants and...
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5.4KSecurity & FraudSEC Warns Cos To Prioritize Cybersecurity
The U.S. Securities and Exchange Commission (SEC) has issued a stern warning to public companies: tighten cybersecurity controls or risk being in...
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3.0KB2B PaymentsEasy Pickings For BEC Criminals?
The age of business email compromise (BEC) is upon us. And for the scammers, it’s not all that hard to do the scamming....
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5.4KB2B PaymentsIn Payments Fraud, Impersonation Gets Personal
In the U.K., it’s well known that late payments bedevil firms – but what of payments fraud? Impersonation fraud, also known as...
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15.2KSecurity & FraudPhishing Scam Masquerades As Square To Target Businesses
A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. Reports in the Victoria Advocate...
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5.5KB2B PaymentsBusiness Email Scam Losses Now Top $12 Billion
The U.S. Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on...
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4.2KB2B PaymentsTreasurers Overconfident On Cyber Defenses
With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared...
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5.3KB2B PaymentsHow Fake News Drives Corporates To Redirect Their Security Strategies
Researchers estimate U.S. eCommerce companies lost $6.7 billion due to fraud in 2016, and a significant portion of that stems from chargeback...
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IBM Uncovers Business Email Scam Targeting Fortune 500 Firms
IBM is warning Fortune 500 companies of a widespread business email compromise (BEC) scam. The technology company’s X-Force Incident Response and Intelligence...
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5.0KB2B PaymentsUK Watchdog Wants Banks To Change Push Payments Fraud Strategy
U.K. consumer watchdog Which? is calling for better protections against push payment scams, according to reports. A press release by Which? issued...
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4.4KSMBsSMBs Have Payment Fraud Blind Spot
Small- and medium-sized businesses (SMBs) are in the dark when it comes to the impact payments fraud can have on their company,...
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7.6KB2B PaymentsFBI Cyber Head Reinforces Need For Action On Corporate Security
Small and medium-sized business (SMB) cybersecurity must be paramount for both the small businesses themselves and the Federal Bureau of Investigation (FBI), the...
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6.5KB2B PaymentsCyber Grinch Steals Nearly $600K From Dublin Zoo
The business email compromise continues its reign as a top cyber threat for the enterprise, and no business or industry is safe....
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3.1KB2B PaymentsUS Judge Sentences Man For $25M Supplier Invoice Scam
A U.S. judge has sentenced a Nigerian man to three years and five months in prison for his role in a business...
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5.3KB2B PaymentsBusiness Email Scam Not Covered By Cyber Insurance, Canadian Court Rules
The Business Email Compromise (BEC) scam is jeopardizing millions of dollars for businesses of all sizes and industries. Just last week, news reports...
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4.4KB2B PaymentsBusiness Email Scams’ Latest Target: Art Galleries
Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime....
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3.6KB2B PaymentsBusiness Email Scammers Finding Success With UK Firms
The U.S. isn’t the only place where business email scams are threatening the enterprise. New research from RSM, which provides consulting services...
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5.0KB2B PaymentsSurprise: The C-Suite Falls For Invoice Scams The Most
Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. What makes this...
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4.1KB2B PaymentsTD Survey Finds Business Email Scams Continue Their Reign
The business email compromise continues its reign as most common corporate cyberattack, according to a new report from TD Bank. The FI...
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7.4KB2B PaymentsMalware Hits Businesses Under Guise Of PowerPoint Presentation
Another round of malware is hitting corporate computers, media in the U.K. said Monday (June 5), with attackers disguising the malicious attack...
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6.6KB2B PaymentsHuman Error To Blame For Much Of Corporate Finance Scam, Says Verizon
The bad news keeps on coming for businesses facing cyberattacks. The FBI released new data last week warning businesses that the business email...
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8.3KSecurity & FraudFBI Says There Was An Uptick In Cyber Wire Fraud In 2016
Cyber wire fraud via email had increased during the last seven months of last year, according to a new warning from the...
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5.2KSecurity & FraudGoogle And Facebook Scammed Out Of $100M
It doesn’t matter where or who you are. Phishing attacks can happen to even the most vigilant among us. This point was...
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5.8KToday In DataToday In Data: B2B Payments Fraud
Fraud can happen on a multitude of levels in nearly any part of the economy. In the Association for Financial Professionals‘ 2017 Payments...
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5.9KB2B PaymentsBreaking Down The Data Behind Record Levels Of B2B Payments Fraud
The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise,...
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10.7KB2B PaymentsCorporate Payments Fraud Hits Record Levels
More companies than ever before fell victim to payments fraud last year, according to new data. Research from the Association for Financial Professionals (AFP),...
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2.5KDaily Data DivePYMNTS’ Daily Data Dive: Email Hacker Takes $100M
It’s hard to hide any wrongdoings in today’s tech-infused world. Everything is recorded, timestamped, photographed and filed into the wonderful arena of...
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49.8KB2B PaymentsDoJ Charges Man With $100M Business Email Scam
The U.S. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for a $100 million business email compromise scam....
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3.1KSecurity & FraudRansomware Rises 752% in 2016, Trend Micro Says
Trend Micro released its annual security roundup report, “2016 Security Roundup: A Record Year for Enterprise Threats,” which showed that ransomware cyber...
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6.2KB2B PaymentsGoogle’s Latest Enterprise Cybersecurity Warning
Security experts are practically begging corporates to get serious with cybersecurity. Research released only days ago from Centrify found that two-thirds of...
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7.6KB2B PaymentsPrivate Sector, Health Care, Government All Face Data Security Risks
This week’s data digest is all about, well, data. The latest report from the Identity Theft Resource Center (ITRC) and CyberScout finds...
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19.1KB2B PaymentsPaper Checks, Email Fraud Top Enterprise Security Threats
Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of...
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9.6KB2B PaymentsINTERPOL Makes Arrest In $60M Business Email Scam Ring
According to the Federal Bureau of Investigation, cyberscams attacking businesses, known as the Business Email Compromise, has led to $3.1 billion in...
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5.1KB2B PaymentsFBI Pinpoints ‘Ground Zero’ For Supplier Email Scams
The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and...
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6.7KB2B PaymentsePayments Fall Short In B2B Payments Protection
Besides the efficiency and cash savings associated with automated processes, businesses that choose to stay connected to paper are missing out on...
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Security Startup Grabs $22M To Safeguard Corporate Email
The Business Email Compromise is now a top concern for the enterprise and security providers alike, especially since regulators have released warnings against...
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2.8KB2B PaymentsFBI Sounds New Alarm Over Supplier Invoice Scams
The B2B invoice scam could be headed for your inbox. According to the Federal Bureau of Investigation, the instances of B2B invoice...
