PYMNTS-MonitorEdge-May-2024

Invoice Fraud

Invoice fraud is when fake invoices are sent to targeted businesses in an attempt to extract money from companies with vulnerabilities in their accounts payable processes.

Source: blog.procurify.com

The B2B Fraud Lens Focuses In On Invoice Scams
The B2B Fraud Lens Focuses In On Invoice Scams
July 26, 2021  |  B2B Payments

Business email compromises (BEC) are among the most common methods of B2B payments fraud and can frequently involve invoice manipulation when a cyber attacker or...

READ MORE >
Prolific Ransomware Attack Raises SMBs’ Security Concerns
Prolific Ransomware Attack Raises SMBs’ Security Concerns
July 12, 2021  |  B2B Payments

Business email compromise (BEC) scams continue to wreak havoc on businesses’ B2B payment workflows, but this week’s B2B Data Digest finds ransomware has once again...

READ MORE >
Cyberattacks, Internal Fraud Overwhelm Businesses With Massive Losses
Cyberattacks, Internal Fraud Overwhelm Businesses With Massive Losses
June 14, 2021  |  B2B Payments

B2B fraud and cybersecurity technology are surging as cyber threats ramp up against the enterprise and as multimillion-dollar hauls from cybercriminals make headlines. Just this...

READ MORE >
Should Banks Reimburse Businesses For Fraud?
Should Banks Reimburse Businesses For Fraud?
June 01, 2021  |  B2B Payments

Consumer fraud is an ugly beast, but often, individuals can sleep soundly knowing that instances of fraud are often covered by their banks. Corporates, however,...

READ MORE >
Corporate Ransomware Rears Its Ugly Head Once Again
Corporate Ransomware Rears Its Ugly Head Once Again
May 17, 2021  |  B2B Payments

Ransomware is once again top-of-mind for corporate finance leads in the wake of the Colonial Pipeline attack. The event has become a painful reminder of...

READ MORE >
Keeping Pace With The Evolution Of Business Email Compromise
Keeping Pace With The Evolution Of Business Email Compromise
May 03, 2021  |  Security & Fraud

Business email compromise (BEC) is an ever-evolving beast that threatens organizations of all types and sizes around the globe. But companies are not entirely defenseless...

READ MORE >
How Fostering A Culture Of Fraud Awareness Alongside Automated Tools Can Help Businesses Beat BEC Scams
How Fostering A Culture Of Fraud Awareness Alongside Automated Tools Can Help Businesses Beat BEC...
April 29, 2021  |  Fraud Prevention

Fraudsters have found a new twist on an old favorite — business email compromise scams. In the inaugural Preventing Financial Crimes Playbook, Jeff Taylor, senior...

READ MORE >
Keeping Trust At The Heart Of Buyer-Supplier Discovery
Keeping Trust At The Heart Of Buyer-Supplier Discovery
April 28, 2021  |  B2B Payments

Supply chain diversification is an absolute must for organizations operating on a global playing field. In Western Europe, Brexit disruption has mixed with pandemic-fueled supply...

READ MORE >
Report: Automation Protects Business Payments From Email Compromise
Report: Automation Protects Business Payments From Email Compromise
April 28, 2021  |  Fraud Prevention

Companies worldwide are still attempting to reconfigure their typical operations and payment processes to keep up with the shifts caused by the pandemic. This includes...

READ MORE >