As fraud schemes become more sophisticated, financial organizations can’t solely rely on having a sharp eye. Well-established workflows and systems must be in place ahead of time. In 2020, 74% of financial professionals in the U.S. reported their organizations were targets of payment fraud, according to the Association for Financial Professionals’ 2021 survey on payments fraud and controls. Nearly everyone is familiar with the term phishing.
Similar Stories to Defend Against Business Email Compromise Fraud: A New Business As Usual on Bing News
UMB Financial Corporation, Biz Journals
Tue, 11/30/2021 - 11:00pm
BING NEWS:
- Business email scams hit New Jersey hard in 2023. What they are and how to avoid them
Don't click on that random link in your inbox, avoid answering phone calls from numbers you don't recognize and err on the side of caution before giving out any personal information online, even if ...
05/3/2024 - 3:04 am | View Link - Small-Business Scam Update: What Entrepreneurs Need to Know
The Federal Trade Commission advises business owners to beware of fake invoices, shifty business coaches, and fake business directory listings.
05/2/2024 - 4:33 pm | View Link - Fake Claims by Scammers Threaten Class Action Settlements
A report says 80 million claims in 2023 showed signs of fraud, and pose an 'existential threat' to the legal process.
05/2/2024 - 7:46 am | View Link - Pittsburgh police issue warning after local business owner scammed out of $125K
Pittsburgh police are warning the public about an increase in several fraud scams.
05/1/2024 - 7:17 am | View Link - Unmasking Business Payment Fraud: How Cybercriminals Operate
To gain insight into the pervasive threats confronting most large finance teams today, let’s look at the most prevalent methods of business payment fraud.
05/1/2024 - 12:16 am | View Link - More
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