Sections
Business Email Compromise
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Security & FraudIt Takes A Hub: Fighting eCommerce Fraudsters Across New Vectors
As commerce shifts online in a pivot that is likely to remain permanent, the fraudsters are also shifting their targets — and...
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B2B PaymentsEmail’s Role In Combatting Business Email Compromise
With the business email compromise (BEC) phishing attack a continuously growing threat for businesses large and small, organizations are exploring how strategic...
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B2B PaymentsBEC Scammers Embrace Coronavirus Opportunity
Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment, Luckin Coffee’s internal accounting fraud...
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B2B PaymentsBEC Tops Fraud Attempts Against Treasurers: Survey
The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was...
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B2B PaymentsWith BEC Scams, Wire Payments Aren’t The Problem
While troubling times can showcase humanity’s resiliency, they can also bring out the worst in people. Case in point: Federal watchdogs continue...
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B2B PaymentsEmail Fraudsters Take Advantage Of Coronavirus Opportunity
Even in times of global crisis, fraudsters will always look for ways to exploit unsuspecting targets. Corporates and government officials have recently...
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B2B PaymentsFBI Details Evolving Sophistication Of BEC Scammers
The FBI has once again sounded the alarm on the proliferation of digital fraud like ransomware and the business email compromise (BEC)...
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B2B PaymentsShark Tank Star Out $400K In Invoice Fraud Scam
Invoice fraud scams continue to target businesses of all sizes and industries, with experts warning of a major spike in various iterations...
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B2B PaymentsTax Season Adds Extra Fraud Weight For SMBs
Tax season is upon U.S. small businesses, and fraudsters are taking advantage. In a new report from Proofpoint, researchers warned that any...
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Security & FraudThe Big Spike In ‘CEO Fraud’
According to the 2019 edition of the FBI’s Internet Crime Report, last year was both a lucrative and diverse year for cybercriminals and...
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B2B PaymentsHow Big Tech Brands Make Businesses An Even Bigger Phishing Target
New data was released this week with an urgent, albeit not necessarily unexpected, message: ransomware and other phishing attacks continue to dramatically...
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B2B PaymentsAnomali Identifies Scam To Steal Gov’t Procurement Site Credentials
An unidentified group is reportedly putting much effort into a complicated scam to steal the login credentials of government personnel. The targets...
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B2B PaymentsCorporates Brace For BEC Scam Ramp-Up
Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk...
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B2B PaymentsB2B Fraudsters Find New Twists In Old Scam Favorites
Fraud never sleeps, and the corporate finance department cannot afford to stay behind on the ever-changing strategies of fraudsters. This week’s B2B...
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B2B PaymentsFBI, BBB Sound Another Business Email Compromise Alarm
Three Kenya-based online scammers are reportedly headed to sentencing after allegedly stealing $3 million from U.S. companies via the Business Email Compromise...
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B2B PaymentsSMBs Severely Underestimate Data Breach Costs
It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams:...
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Security & 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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B2B 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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B2B 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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Security & 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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B2B 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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Security & 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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B2B 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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B2B 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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Security & 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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B2B 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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B2B 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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B2B 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...
- B2B Payments
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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B2B 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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SMBsSMBs 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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B2B 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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B2B 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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B2B 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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B2B 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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B2B 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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B2B 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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B2B 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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B2B 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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B2B 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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B2B 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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Security & 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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Security & 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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Today 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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B2B 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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B2B 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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Daily 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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B2B 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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Security & 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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B2B 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...
