Today In Data: B2B Payments Fraud

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