Industry News Brought to You by Institute of Commercial Payments: Studies and Reports

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AFP Payments Fraud Survey Report: 80% of Organizations Targeted in 2023 Wednesday, November 6, 2024   (0 Comments) Posted by: Sierra Lindemann A sharp rise in payments fraud hit businesses hard in 2023, with 80% of organizations reporting attacks, up from 65% in 2022. ACH credits have emerged as the new top target for Business Email Compromise (BEC), surpassing wire transfers for the first time. Despite the risks, checks remain widely used, with 70% of companies having no plans to discontinue them. How are companies balancing operational demands with the need for stronger fraud defenses? Explore AFP's 2024 survey findings and see where your business might be vulnerable. members READ MORE not a member? jOIN NOW « Back to Index