Fraud can happen on a multitude of levels in nearly any part of the economy.
In the Association for Financial Professionals‘ 2017 Payments Fraud Survey, the organization saw a significant rise in the amount of B2B payment fraud occurrences.
Here are the numbers:
75 percent | Percentage of companies experiencing wire fraud in 2016
74 percent | Percentage of companies that were tricked by 2016 business email compromise (BEC) scams
51 percent | Decline in the use of physical checks in B2B transactions
10 | Number of hands out of 130 business professionals who were aware of what a BEC scam was
71 percent | Amount of companies planning to put stricter security controls in place