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
07/14/2020
PayThink Fraudsters aren't winning, but aren't going away either
PaymentsSource
Over the past few years, it seems that nearly every company has its own story of being a victim or target of payments fraud activity.
According to the 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey, underwritten by J.P. Morgan, 81% of organizations reported being targets of attempted or actual payments fraud attacks in 2019, marking the second-highest percentage in the past decade. While this statistic and several others shared in the survey findings are concerning, we still see too few institutions taking steps to avoid fraud – many only doing so after they’ve become a victim.
As they think through fraud prevention strategies, companies should be aware of the factors that have enabled the uptick of fraud in the last few years and know the trends most likely to characterize fraud in the future.
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