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BEC Tops Fraud Attempts Against Treasurers: Survey

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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. That figure marks the second-highest percentage in the past 10 years.

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BEC Scammers Embrace Coronavirus Opportunity

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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.

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Corporate Payments Fraud Jumps Despite Stronger Internal Controls

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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. ”

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Business Email Scams Spin Even Wider Webs

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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.

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Breaking Down The Data Behind Record Levels Of B2B Payments Fraud

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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.

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BEC Fraudsters Eye HR Departments As Prey      

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Thus, business email compromise fraud (BEC) is evolving too. The Association for Financial Professionals ( AFP ) found that although automated clearing house transactions are generally regarded by CFO.com to be relatively “safer” than other types of transactions — say, paper checks — fraud involving ACH is on the rise.

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Today In Data: B2B Payments Fraud

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74 percent | Percentage of companies that were tricked by 2016 business email compromise (BEC) scams. In the Association for Financial Professionals ‘ 2017 Payments Fraud Survey, the organization saw a significant rise in the amount of B2B payment fraud occurrences.

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