nsKnox - B2B Payments Fraud - November 2022 - Explore trends in B2B payments fraud and the steps companies are taking to shore themselves up against bad actors

The Hidden Costs Of B2B Payments Fraud

Automating Digital Identity Boosts Business Satisfaction With Fraud Tools With 98% of B2B businesses reporting fraud attacks last year, it is no surprise that identifying B2B fraud is cited as a top challenge. In the inaugural edition of “The B2B Payments Fraud Tracker®,” a collaboration with nsKnox, PYMNTS examines how automation of digital identity verification is boosting companies’ satisfaction with their anti-fraud platforms.
Inside the November Tracker
  • Pablo Molina, chief information security officer at Drexel University, tells PYMNTS how technology and collaboration with FIs helped him detect and prevent an attempted payments fraud scheme.
  • Invoice and payments fraud is an enduring problem for businesses, but its growth due to the pandemic has been astronomical.
  • B2B fraud gets less press than consumer-related fraud, but its identification tops companies’ list of biggest challenges.

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