Although two-thirds of companies experienced attempted or actual payments' fraud in 2011, most organisations did not incur any financial loss due to such fraud.

The key findings of the 2012 AFP Payments Fraud and Control Survey also included:

• large organizations are significantly more likely to have experience payments' fraud than smaller ones
• 28% of survey respondents reported increased incidence of fraud
• respondent organisations reporting fraud by each payment system:
  • checks - 85% affected
  • ACH - 17%
• 12% of organizations subject to payments fraud attack involving compromised user IDs/passwords or other access credentials.

 

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Although most US companies did not suffer any financial loss from payment fraud, the potential for huge losses has not disappeared, as the high rate of compromised ID or other access credentials shows.