B2B fraud and cybersecurity technology are surging as cyber threats ramp up against the enterprise and as multimillion-dollar hauls from cybercriminals make headlines.
Just this week, Worldline announced a partnership with Microsoft to enable companies with digital-first business models to mitigate fraud risks by integrating Dynamics 365 Fraud Protection into Worldline’s digital payments solution for eCommerce firms.
Citing the $12 billion in estimated global fraud losses, Worldline’s announcement coincided with revelations about the latest ransomware payments and risks emerging. And while consumer payments can be susceptible to fraud, many firms are grappling with the consequences of B2B payments fraud too as they navigate other threats.
This week’s B2B Data Digest digs into the latest numbers behind B2B payment fraud, ransomware and other cyber threats targeting companies of all sizes.
$48,000 was stolen from a small business in Greece that fell victim to a business email compromise (BEC) scam, local reports in Cyprus Mail revealed. The cybercriminal posed as a legitimate supplier requesting immediate payment on an order that the business had actually made — suggesting the attacker had infiltrated the company’s email accounts….
