Email remains a cornerstone of communication, especially within business-to-business (B2B) relationships. This reliance on email, however, has also made it a prime target for savvy cybercriminals. And with the news that Luxembourg-based chemicals and manufacturing giant Orion SA lost around $60 million after being targeted...
For every new fraud scheme that pops up, dozens of FinTechs are responding to quash it. Yet despite their expertise in cutting-edge technology, FinTechs are far from invulnerable to attacks themselves. A recent PYMNTS report found that FinTechs, on average, lose $51 million every year...
Experian has launched a FinTech-centric version of its fraud prevention network in the U.S. Announced Wednesday (May 10), this new iteration of the company’s Experian Hunter data network is being rolled out in response to a rise in fraud in the FinTech sector. The company...
Despite the increasingly sophisticated weapons fraudsters have on hand to execute their scams, business email compromise (BEC) attacks remain one of their most effective ploys. The FBI estimates U.S. businesses lost $2.4 billion to BEC schemes, in which fraudsters pretend to be a supplier or other...
April 26, 2023
Despite the increasingly sophisticated weapons fraudsters have on hand to execute their scams, business email compromise (BEC) attacks remain one of their most effective ploys. The FBI estimates U.S. businesses lost $2.4 billion to BEC schemes, in which fraudsters pretend to be a supplier or other authorized party and trick employees into diverting funds to them. […]
December 01, 2021
The pivot toward work-from-home environments has opened up new vulnerabilities that allow fraudsters to target B2B payments. Nithai Barzam, chief operating officer of nsKnox, a cyber FinTech focused on fraud...
November 03, 2021
It’s a sad but simple truth: The move to remote work has increased the opportunity for fraud. Employees are more likely to make significant, serious requests over emails that are...
August 31, 2020
Major changes continue to sweep across the business-to-business (B2B) payments scene. The COVID-19 pandemic is making paper-based transactions increasingly challenging, and the adoption of faster payments rails is on the...
May 10, 2023
Experian has launched a FinTech-centric version of its fraud prevention network in the U.S. Announced Wednesday (May 10), this new iteration of the company’s Experian Hunter data network is being rolled out in response to a rise in fraud in the FinTech sector. The company said in a news release that the network gives users […]
December 16, 2022
Criminals are using BEC scams against small businesses to steal hundred-thousand-dollar food shipments. They are spoofing emails and domains to impersonate employees at real firms, according to a joint Cybersecurity Advisory (CSA)...
April 14, 2020
With the business email compromise (BEC) phishing attack a continuously growing threat for businesses large and small, organizations are exploring how strategic cybersecurity investments can protect them when bad actors...
April 28, 2019
Police in Singapore helped stop a scam that was targeting users of bitcoin machines at a local mall. The police have been investigating bitcoin machines at Tampines One Mall in...
