PYMNTS

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

PYMNTS

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

Business Email Compromise 61

Business Email Compromise Email Compromise AFP Compromise 61

PYMNTS

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

PYMNTS

APRIL 12, 2019

Thus, business email compromise fraud (BEC) is evolving too. As reported in darkreading.com, the gangs using BEC – new gangs and seasoned gangs – have recently been targeting human resource and finance professionals to grab direct deposit payroll information to siphon off funds. ACH in the Crosshairs, Too.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

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 Wires Wire 44

PYMNTS

NOVEMBER 9, 2017

“The senior finance executives we surveyed made it clear that they know they need to do a better job of keeping their boards informed about this critical issue.” ” Their concerns aren’t baseless, either. ” Not all of these silos are easy to overcome, however.

Risk Management 43

Risk Management Risk Treasury AFP 43

PYMNTS

APRIL 10, 2017

corporations were hit with payment fraud than ever before, according to the Association for Financial Professionals (AFP). The AFP’s newest report found 75 percent of companies fell victim to payments fraud in 2016, up from 71 percent in 2015. Corporate payments fraud , marking 2016 as the year in which more U.S.

AFP 40

AFP Small Business Email Compromise Federal Reserve 40