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Scammers Prove Corporate Payments Fraud Comes In All Shapes And Sizes

PYMNTS

But the BEC scam is not the only kind of business payments fraud plaguing firms today. This week's B2B Digest looks at how corporate finance scams come in all shapes and sizes, from employee expense fraud to invoice falsification. PYMNTS breaks down the numbers behind the latest cases below.

Fraud 228
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Bank Managers Tied To AML Investigation In Brazil

PYMNTS

Police in Brazil have raided the residences of managers of Banco do Brasil in connection to their part in a money-laundering scam worth $48 million. Police are looking into accusations that the managers were a part of laundering the money between 2011 and 2014. .

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How Mobile Wallets Could Bring Security To Shoppers

PYMNTS

From fuel pumps to convenience stores (C-stores), many consumers worry about the security of their personal financial information. adults are concerned about the security of their financial data when making payments at these venues. Mobile wallets , however, have advantages that span from convenience to security.

Security 140
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Fraudsters Try New Spins On The BEC Scam

PYMNTS

New analysis from Bank Info Security , for instance, revealed that BEC scammers have begun to target corporates’ financial documents from accounts receivable departments to identify unpaid invoices, as well as information regarding Days Sales Outstanding and clients. The Business Email Compromise (BEC) continues to evolve.

Fraud 178
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Why Security Techniques Need To Evolve As Fast As Hackers

PYMNTS

an 11-year-old made headlines when he managed to hack a highly accurate replica of Florida’s election website in less than 10 minutes. A research team at the Black Hat conference managed to trick voice recognition software from Microsoft by convincing it a machine voice was human. It should finish in a reasonable time.

Security 101
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Trending: Mobile Order-Ahead Takes The Field

PYMNTS

These debates are nothing compared to the looming specter of fraud, however. In the October Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of digital ordering, including the growing popularity of virtual restaurants and how QSRs are protecting themselves against friendly fraud.

Trends 116
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SWIFT Pressures Member Banks To Enhance Cybersecurity

PYMNTS

SWIFT is putting the pressure on its members to enhance their cybersecurity capabilities, according to reports by SC Magazine. The Customer Security Intelligence team was launched in May last year in an effort to ensure its member FIs comply with SWIFT’s recommended cybersecurity requirements.

Security 100