White Paper

Mitigating Payment Fraud: A Step-by-Step Plan

How to stop payment fraud in its tracks and protect your bottom line.

What the white paper covers:

Almost three-quarters of organizations were the target of a payment fraud attack in 2020, with forty percent of AP departments having experienced multiple fraud attacks since the start of the pandemic.

These figures are startling and will only continue to rise unless AP departments take back control. This guide offers actionable insights for organizations looking to step up their approach to reducing risk and making fraud mitigation a part of corporate culture.

63%

Of businesses say BEC attacks are their organization’s primary source of payment fraud.

What you will learn:

  • The primary types of payment fraud: BEC attacks, account takeovers, and supplier impersonation
  • The different ways payment fraud can cost your company money: fraud losses, tools and headcount, partner impact
  • How organizations are mitigating fraud: AP automation, standardized processes, payment reconciliation automation
  • 5 steps AP and procurement leaders can take to align stakeholders with your fraud strategy

85%

Of companies combat ACH fraud by
reconciling accounts daily.