The good news is that attempted and actual payments fraud declined last year. The bad news is it went down only a tick and remains very close to the all-time high, according to the latest report from the Association for Financial Professionals, a Bethesda, Md.-based trade group for companies across a wide range of industries.
The association, which has surveyed companies every year for 16 years, found that 81% had experienced attempted or actual fraud in 2019, down slightly from 2018’s 82%. The survey has found fraud rising steadily across a wide range of payment methods since 2013, when it registered at 60%. Now, “If anything, [fraud] is remaining stable,” says Tom Hunt, director of treasury services at the AFP. “I don’t take a lot from that.”