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...
As instant payments become the norm, businesses can bolster safeguarding their hard-earned revenue. While legacy habits such as paper checks persist, small businesses are catching up with their larger competitors in modernizing their finance systems. Swapping traditional methods for efficient alternatives such as real-time payments is increasingly...
Hackers and fraudsters constantly probe their would-be victims for weaknesses. And when it comes to B2B fraud — where the payoff can be in the millions of dollars — for the moment, the accounts receivable (AR) departments and workflows are among the most enticing targets....
Robust fraud prevention measures, having always been an important tool for businesses, are now a must. When payments took hours or days to go through, companies had more time to verify the authenticity of invoices and perhaps even claw back funds accidentally sent to fraudsters. Now, however, businesses using faster...
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. […]
March 09, 2023
As instant payments become the norm, businesses can bolster safeguarding their hard-earned revenue. While legacy habits such as paper checks persist, small businesses are catching up with their larger competitors in modernizing...
February 28, 2023
Business-to-business (B2B) payments are transforming as companies of all sizes swap checks and traditional payment methods for real-time payments, embedded finance solutions and banking-as-a-service (BaaS) products. Adopting these quicker, more...
February 06, 2023
As cybercriminals become increasingly sophisticated, companies must implement technology to protect payments, Nithai Barzam, COO at nsKnox, writes in the new PYMNTS eBook, “2023 Payments New Year’s Resolutions.” With the...
July 05, 2023
Meta Platforms has selected nsKnox to ensure B2B payment security. nsKnox, a provider of global bank account validation and B2B payment security, and its PaymentKnox for Accounts Payable (AP) solution are set to validate vendor bank accounts globally, protecting all outgoing B2B payments against fraud for Meta, nsKnox said in a Wednesday (July 5) press release. “Meta will now […]
February 07, 2022
Security platform nsKnox on Monday (Feb. 7) introduced Bank Account Certificate, calling it a “fraud-proof approach to sharing and validating banking details.” Bank Account Certificates from nsKnox are encrypted, signed...
January 11, 2022
The B2B fraud prevention and security company nsKnox says it has been awarded a U.S. patent for its CCS (Cooperative Cyber Security) technology. “The technology underlines the company’s solutions for...
