While data breaches involving card data are making the headlines, a recent survey conducted by the Association for Financial Professionals (AFP) shows a marked uptick last year in frauds involving wire transfers.

Overall, the survey results suggest the payment fraud landscape is little changed from last year. Sixty-two percent of the more than 700 finance professionals surveyed by AFP in January said their companies experienced payment fraud in 2014, up only slightly from 60% in 2013.

Check fraud remains the biggest problem, cited by 77% of the organizations that experienced payment fraud last year, down from 82% in 2013. Thirty-four percent of the respondents said that their company experienced credit or debit card fraud, little changed from 33% in 2013.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.