2017 and AFP - Payments Space

Corporate Payments Fraud Jumps Despite Stronger Internal Controls

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

AFP Scams Email Compromise ACH

Tax Reform Not Enough To Convince Corporates To Spend, AFP Finds

PYMNTS

MAY 3, 2018

” However, the latest analysis from the Association for Financial Professionals (AFP) suggests businesses are reluctant to let go of that cash. The AFP’s newest Corporate Cash Indicators report , released this week, found trade dispute concerns to be among the largest factors hampering U.S.

AFP

AFP Treasury Treasury Management Disputes

BEC Tops Fraud Attempts Against Treasurers: Survey

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. ACH payment methods also seem to be of greater interest to scammers.

Business Email Compromise

Business Email Compromise Email Compromise AFP Compromise

78 percent of organizations hit by payments fraud in 2017

The Paypers

APRIL 11, 2018

(The Paypers) The 2018 AFP Payments Fraud Survey, underwritten by J.P. Morgan has revealed that payments fraud reached a new record in 2017: 78% of organizations were hit by fraud.

AFP

AFP Payments

Corporate America Hinges On Presidential Election

PYMNTS

NOVEMBER 7, 2016

Take Singapore, for instance, where 67 percent of treasurers there plan to boost FinTech spend in 2017. A +7 point increase in the AFP’s Corporate Cash Indicators report means U.S. The statistic, released by East & Partners in its Treasury FinTech Index , reveals that the U.S. Even more U.K. treasurers said the same.

Small Business

Small Business AFP Cash Management Finance

Breaking Down The Data Behind Record Levels Of B2B Payments Fraud

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

AFP B2B Business Email Compromise Email Compromise

Treasurers Understand — But Aren’t Living Up To — Rising CFO Expectations

PYMNTS

NOVEMBER 8, 2018

Separate analysis from the Association for Financial Professionals (AFP), also released last year, further emphasized the shifting role of treasury, with 80 percent of treasurers surveyed agreeing that the position is playing a more strategic role than it did three years ago — and will continue to do so moving forward.

AFP

AFP Treasury Cash Management Treasury Management

Artificial Intelligence Takes On Risk Of Invoice Non-Payments

PYMNTS

MARCH 14, 2017

The Association of Financial Professionals’ (AFP) 2017 Risk Survey found that 60 percent of businesses identify maintaining adequate liquidity as their top strategy to reduce geopolitical risks of the global market. For any company, holding onto capital is key to remaining successful on the global stage.

Risk

Risk Payment APIs and Integration AFP Small Business

BEC Fraudsters Eye HR Departments As Prey

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

Business Email Compromise AFP ACH Email Compromise

In India, Has Demonetization Been Defeated?

PYMNTS

AUGUST 30, 2018

Fortune offered up a summation in the words of Ashutosh Datar, an economist based in India who told AFP that “the report shows that demonetization has failed in its primary objective.” The central bank this month said that it had gotten roughly 99.3 Digital transactions have not kept pace, The Hindu BusinessLine reported Thursday (Aug.

AFP

AFP Central Bank Origination Digital Payments

75 percent of organizations were victims of payments fraud in 2016

The Paypers

APRIL 6, 2017

(The Paypers) The 2017 AFP Payments Fraud Survey , underwritten by J.P. Morgan, has revealed that three quarters of corporate treasury and finance professionals said their companies were victims of payments fraud.

AFP

AFP Treasury Payments Finance

Threats, Risk Coming At Businesses From All Sides

PYMNTS

JANUARY 23, 2017

49% of financial professionals say earnings uncertainty is a greater threat today than it was three years ago, according to the 2017 Association for Financial Professionals Risk Survey. 40% more cyberbreaches impacted U.S. businesses in 2016 than the year prior, found CyberScout.

Risk

Risk AFP Identity Theft Email Compromise

Standard Chartered Woes Extend To Expense Account Fraud

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. As for other avenues, business email compromise showed up mightily, experienced by 77 percent of organizations in 2017.

AFP

AFP Accounts Wires Wire

Amazon’s Uncharted Territory And Travels On Indian Trains

PYMNTS

OCTOBER 18, 2016

Walmart has also been expanding its grocery pickup program and expects to have it available at more than 1,000 locations — 25 percent of its store base — by the end of 2017. DiBenedetto said that the company plans to expand to other cities in 2017. Domino’s Pizza On Indian Trains … Are Those Olives Or Cockroaches?

AFP

AFP On-Demand B2B Consumer

Speed Finds Opportunity In B2B Payments Beyond Accounts Payable

PYMNTS

SEPTEMBER 17, 2019

SMBs using the WePay platform can now see funds deposited into their Chase bank accounts the same day without extra fees, a feature resulting from JPMorgan ’s acquisition of WePay in late-2017. FinTechs Move Money To Vendors Faster.

B2B

B2B RTP Bankers' Bank Accounts

Supplier Acceptance An Unavoidable Hurdle In vCard Adoption

PYMNTS

JUNE 19, 2018

The Association for Financial Professionals (AFP) found in a 2017 report that nearly a quarter of businesses saw their corporate card products – including commercial cards, fleet cards , T&E cards and others – targeted by a fraud attack, either attempted or actualized.

Commercial Card

Commercial Card Data Breach Credit Cards B2B

JPMorgan’s Interest In National And International RTP

PYMNTS

FEBRUARY 8, 2018

It wasn’t until November 2017 that The Clearing House (TCH) debuted its Real-Time Payments (RTP) scheme — a system that isn’t expected to see across-the-board adoption until 2020. Countries from the U.K. to Singapore have long been home to real-time payment schemes, but speed lagged behind when it came to America.

RTP

RTP Real Time Payments TCH Faster Payments

Payments Acceleration Shifts The Risks For Buyers And Suppliers

PYMNTS

MARCH 5, 2018

More recently, the Association for Financial Professionals’ (AFP) 2017 Risk Survey found nearly half of businesses say their exposure to uncertainty is higher than it was three years ago, and 51 percent say forecasting risks will be more difficult three years from now than it is today.

Risk

Risk Cross-Border Non-Bank B2B

CFOs Failing Their Boards In Fraud, Risk Management

PYMNTS

NOVEMBER 9, 2017

Separate research released in April by the Association for Financial Professionals in its 2017 AFP Payments Fraud Survey found that corporate payments fraud is now higher than ever, with analysts citing a “dramatic” increase in fraud compared to levels seen in 2015. ” Their concerns aren’t baseless, either.

Risk Management

Risk Management Risk Treasury AFP

Taking The Good Of B2C Payments ? And Leaving The Bad ? For B2B eCommerce

PYMNTS

JUNE 15, 2018

market will grow from $889 billion by the end of 2017 to $1.2 ” While the role of faster and real-time payments remains uncertain in the B2B landscape, most professionals surveyed by the Association for Financial Professionals (AFP) in its 2016 report agreed that faster payments will be a good thing for their firms.

B2C

B2C B2B Reconciliation Payment APIs and Integration

Today In Data: B2B Payments Fraud

PYMNTS

APRIL 14, 2017

In the Association for Financial Professionals ‘ 2017 Payments Fraud Survey, the organization saw a significant rise in the amount of B2B payment fraud occurrences. Fraud can happen on a multitude of levels in nearly any part of the economy. Here are the numbers: 75 percent | Percentage of companies experiencing wire fraud in 2016.

B2B

B2B Business Email Compromise Email Compromise Scams

Paper Checks’ Uncertain B2B Payments Future

PYMNTS

JANUARY 5, 2017

The research, also published by the AFP for its 2016 Electronic Payments Survey , found a 1 percent increase in the use of paper checks for B2B payments compared to levels seen in 2013. Some financial service providers have reacted to the seeming inability for corporates to let go of paper by giving into demands for check solutions.

Checks

Checks B2B AFP Same Day ACH