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APRIL 10, 2019

While corporates are adopting stronger internal controls to combat the threat of payments fraud, new data from the Association for Financial Professionals (AFP) reveals the number of incidents has continued to climb to new heights. ”

AFP 69

AFP Scams Email Compromise ACH 69

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APRIL 7, 2020

The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement. ACH payment methods also seem to be of greater interest to scammers.

Business Email Compromise 61

Business Email Compromise Email Compromise AFP Compromise 61

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APRIL 13, 2020

B2B payments are far from immune to fraud, and in this week’s B2B Data Digest, the business email compromise (BEC) scam reigns. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

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JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. The problem is getting worse, according to the Association for Financial Professionals’ (AFP) latest Payments Fraud and Control Survey Report.

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

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APRIL 12, 2019

Thus, business email compromise fraud (BEC) is evolving too. The HR/finance professional focus seeks to get credentials from a high-ranking employee in a targeted firm and leverages that employee’s legitimate email account to send emails to the finance professionals to get the funds transferred.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

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APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. But there are other ways the AFP found businesses are exposed to payments fraud, most notably through the BEC scam.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

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DECEMBER 12, 2017

The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. About 44 percent of payments received are in the form of a paper check too, the report noted.

Accounts 44

Accounts Wire Transfer Wire Wires 44