Payments fraud remains widespread, but has inched down from thepeak seen in 2009, according to the close to 450 corporate financeexecutives who participated in the Association for FinancialProfessionals' eighth annual survey. And despite the prevalence ofpayments fraud, its cost to companies isn't that high.

Two-thirds of companies experienced either attempted or actualpayments fraud last year, down from 71% in 2010 and 73% in 2009.Bigger companies saw more fraud attempts than smaller companies,with 81% of those with annual revenue of more than $1 billionhaving been hit, vs. just 55% of companies with revenue of lessthan $1 billion.

The AFP reports suggests companies' efforts to control fraud maybe paying off, citing such methods as positive pay and dailyreconciliations of bank accounts.

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Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.