AFP, Email Compromise and Payments

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Email Compromise

Payments

Corporate Payments Fraud Jumps Despite Stronger Internal Controls

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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

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. Results noted a bit of a rise in ACH credit fraud.

Business Email Compromise

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The Finance Weekly

BEC Scammers Embrace Coronavirus Opportunity

PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.

Business Email Compromise

Business Email Compromise Email Compromise Scams Law Enforcement

Business Email Scams Spin Even Wider Webs

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

Scams Business Email Compromise AFP Wire Transfer

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. much of the data offers a pessimistic outlook on how companies are at risk for payments fraud.

AFP

AFP B2B Business Email Compromise Email Compromise

BEC Fraudsters Eye HR Departments As Prey

PYMNTS

APRIL 12, 2019

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.

Business Email Compromise

Business Email Compromise AFP ACH Email Compromise

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. 74 percent | Percentage of companies that were tricked by 2016 business email compromise (BEC) scams.

B2B

B2B Business Email Compromise Email Compromise Scams

Standard Chartered Woes Extend To Expense Account Fraud

PYMNTS

JUNE 14, 2018

But of course, for our purposes, the focus is on payments – and here there are investigations, too, specifically into expense account fraud. Roughly 78 percent of all organizations experienced payments fraud – and the Association of Financial Professionals (AFP) found some gradations in that fraud.

AFP

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Threats, Risk Coming At Businesses From All Sides

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JANUARY 23, 2017

For these executives, geopolitical risk is a major cause of earnings uncertainty; AFP President and CEO Jim Kaitz said this kind of risk can come “in the form of a surprise election result, new regulations or heightened diplomatic conflict” and noted that it is “a greater threat to organizations than ever before.”

Risk

Risk AFP Identity Theft Email Compromise

Accountants Find Their Place In SMB FinTech Disruption

PYMNTS

DECEMBER 12, 2017

That’s the status quo in corporate payments, and it’s not only creating friction for the business payer; it’s creating headaches for small business (SMB) accounting too. That’s according to Hamed Abbasi, CEO of payments technology firm Plooto. About 44 percent of payments received are in the form of a paper check too, the report noted.

Accounts

Accounts Wire Transfer Wires Wire

CFOs Failing Their Boards In Fraud, Risk Management

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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.

Risk Management

Risk Management Risk Treasury AFP

What’s Up With SMEs: Payments Fraud, Mobile Lending, And Inflation

PYMNTS

APRIL 10, 2017

But often, stats going up — like inflation, the Federal Interest Rate, and corporate payment fraud levels — threaten the growth of small businesses. Corporate payments fraud , marking 2016 as the year in which more U.S. Inflation means U.K. SMEs are experiencing a 3.2 percent increase in business expenses, said Barclays.

AFP

AFP Small Business Email Compromise Federal Reserve

Payments Space

Corporate Payments Fraud Jumps Despite Stronger Internal Controls

BEC Tops Fraud Attempts Against Treasurers: Survey

Trending Sources

BEC Scammers Embrace Coronavirus Opportunity

Business Email Scams Spin Even Wider Webs

Breaking Down The Data Behind Record Levels Of B2B Payments Fraud

BEC Fraudsters Eye HR Departments As Prey

Today In Data: B2B Payments Fraud

Standard Chartered Woes Extend To Expense Account Fraud

Threats, Risk Coming At Businesses From All Sides

Accountants Find Their Place In SMB FinTech Disruption

CFOs Failing Their Boards In Fraud, Risk Management

What’s Up With SMEs: Payments Fraud, Mobile Lending, And Inflation

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