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 $2.9B in confirmed losses from business email compromise in 2023, with over $55B in exposed losses over the last 10 years. In fact, these are only a fraction of the real amounts — not all losses are reported.
Losses will only get worse, as more transactions are handled electronically and fraudsters are becoming more convincing.
