This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
12/23/2019
Payments Fraud: Hitting a Moving Target to Stop Bad Actors
M&T Bank
As fraudsters continue to innovate and develop new techniques targeting businesses, organizations must remain vigilant to deter threats.
According to the Association of Financial Professionals’ (AFP) 2018 Payments and Fraud Control Survey, 78% of companies were victims of payments fraud in the previous year. AFP’s President and CEO Jim Katz, commenting on the study, said “It is alarming that the rate of payments fraud has reached a record high despite repeated warnings.”
Clearly, greater overall awareness on the part of business owners of new forms of fraud and advancements in anti-fraud technology has not deterred attackers. “Bad actors” have been keeping pace and continue to develop new tactics. In this environment, businesses need to remain vigilant, understand and anticipate scams, and better prepare themselves to deter threats.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information