Business email compromise (“BEC”) occurs when a payee’s business email account is compromised or impersonated. The threat actor, posing as the payee or its representative (e.g., the head of the accounting department), sends...more
Business account takeover (“ATO”) fraud occurs where a threat actor gains access to a business account on a payments platform (e.g., a payroll or accounts payable tool) or fraudulently creates such an account and engages in...more
There are certain nonbank markets that the Consumer Financial Protection Bureau (“CFPB”) has the statutory right to supervise irrespective of size (e.g., mortgage, private education loan, payday lending). Then, there are...more
Cybercriminals continue to find payment card data enticing. And despite the increasingly stringent safeguards designed to prevent misappropriation, payment credentials are routinely compromised. We have recently written about...more
As most consumers know, there is often a fee associated with paying by credit card. That fee, called a “surcharge,” allows the merchant to recoup the additional processing costs associated with accepting card payments. While...more