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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. ”
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.
In this week’s B2B Data Digest, PYMNTS examines some of these numbers, finding that businesses are falling victim to payments fraud, but that tech firms are taking actions to mitigate cyber risks. .
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