Business email compromise (BEC) scams are squeezing more money than ever out of victims, and accounted for more than half of all losses from cyberattacks last year, according to the FBI 2019 Internet Crime Report released on Tuesday (Feb. 11). An estimated $1.77 billion in losses...
As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are urging business owners and executives to take the lead in combatting fraudsters. Indeed, the latest cases rounded up by PYMNTS...
KPMG is rolling out a new payments security solution targeting B2B payments fraud, the company said Thursday (Nov. 21). A press release said KPMG is collaborating with cybersecurity provider nsKnox to roll out its KPMG Secure Payments tool, distributed and serviced by KPMG Israel. The...
Three Kenya-based online scammers are reportedly headed to sentencing after allegedly stealing $3 million from U.S. companies via the Business Email Compromise scam, reports in The East African said last week. The U.S. Federal Bureau of Investigation (FBI) was deployed to Kenya to investigate the...
