PYMNTS

SEPTEMBER 12, 2019

While more businesses are not only shifting away from paper, but operating with an embrace of digitization, the AFP and JPMorgan warned that checks remain popular and are far from being gone for good in the corporate payments ecosystem.

AFP 51

AFP Checks ISO 20022 Cross-Border 51

PYMNTS

JULY 25, 2018

The problem is getting worse, according to the Association for Financial Professionals’ (AFP) latest Payments Fraud and Control Survey Report. While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer.

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Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

JUNE 20, 2016

Reports on Friday (June 17) by the Association for Financial Professionals (AFP) said the Fed recently provided an update on its progress to encourage ISO 20022 adoption. “The wire infrastructure will be the first infrastructure to abandon its propriety formats and move to ISO 20022.” “The U.S.

ISO 20022 40

ISO 20022 ISOs Fed AFP 40

PYMNTS

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

PYMNTS

JUNE 14, 2018

In an illustration of just how widespread payments fraud can be, consider the 2018 AFP Payments Fraud Survey , underwritten by JPMorgan, which a few weeks ago found that such activity hit a new high last year. The next most prevalent activity was wire fraud, at 48 percent, followed by corporate fraud at 30 percent.

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AFP Accounts Wire Wires 41

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Most businesses and accountants still rely on antiquated, paper-based methods to manage some stages of their process,” he said in an emailed interview with PYMNTS, pointing to the continuing popularity of checks and wire.

Accounts 44

Accounts Wire Transfer Wires Wire 44

PYMNTS

APRIL 12, 2019

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.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46