Manually verifying payment instructions is risky and inefficient
Digitization of push payments (wires, RTP, crypto, and more) greatly increases the threat of hijacked payments.
All it takes is a compromised email account.
You’re trying to fund an investment, distribute to an LP, or pay an invoice. But a fraudster uses the recipient’s email account to impersonate them – and get the money! These attacks, known as business email compromise (BEC), are happening every day.
Manually verifying payment instructions is risky and inefficient
Digitization of push payments (wires, RTP, crypto, and more) greatly increases the threat of hijacked payments.
All it takes is a compromised email account.
You’re trying to fund an investment, distribute to an LP, or pay an invoice. But a fraudster uses the recipient’s email account to impersonate them – and get the money! These attacks, known as business email compromise (BEC), are happening every day.
FBI statistics show that confirmed losses from BEC in 2023 were $2.9B. This is only a fraction of the real amount because not all losses are reported.
Projections indicate that BEC losses will accelerate, as more and more transactions are handled electronically.
