2014 AFP Payments Fraud and Control Survey
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Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated. In the wake of recent security breaches, 63 percent of organizations have either adopted additional security measures or are planning to do so in the near future, with measures ranging from secure signature stamps, electronic signatures, payment data stored with third-party vendors and increased layers of security.
The 2014 AFP Payments Fraud and Control Survey presents detailed statistics on corporate payments, including those involving checks, ACH, wires and check/debit cards. The report reveals that a majority of organizations continued to be impacted by payments fraud in 2013 and are on heightened alert as a result of the recent security breaches at major retailers. The survey findings also highlight the importance for organizations to take appropriate measures to minimize their exposure to fraud attacks. AFP thanks J.P. Morgan for its long-time and continued underwriting support of payments fraud-related survey research and data collection.
In January 2014, the Research Department of the Association for Financial Professionals® (AFP) conducted the AFP Payments Fraud & Control Survey for the tenth year. The survey generated 449 responses from senior-level corporate practitioners, representing a wide range of organizations both publicly and privately owned and of varying sizes.
Previous editions of the AFP Payments Fraud and Control Survey:
Another survey that may interest you: 2013 AFP Electronic Payments Survey