Latest Global Recovery Monitor Reveals Fraud Is on the Rise as Employees Continue to Work from Home
Treasury And Cash Management
In early 2020, Strategic Treasurer formed the Treasury Coalition. The Treasury Coalition is a collaborative group of industry leaders that sponsor a bi-monthly survey, the Global Recovery Monitor, sent to treasurers and financial professionals around the globe.
The survey seeks to understand how the industry has been impacted by the pandemic and how banks and businesses are responding. Questions are intended to take the pulse of important topics such as the status of debt and liquidity, perceptions of when financial normalcy would return, and how Accounts Payable and Accounts Receivable functions have been affected.
Period 16 results highlights:
- Fraud: reporting on fraud attacks indicates that they are still increasing as employees continue to work from home with 53% of responders reporting an uptick in fraudulent activity.
- Liquidity: access to liquidity moved back to the top of the list of concerns facing the industry, with regional recessions and country preparedness rounding out the top three.
- Virus Resurgence: nearly 50% of respondents are preparing for a second lockdown period as the world sees a resurgence of virus cases and countries put mitigation measures in place.
Access the full Period 16 results report here.
Read the first article in this series, featuring an interview with Craig Jeffery, Executive Director, Strategic Treasurer and check out the previous results articles here.
How You Can Help
The Treasury Coalition will continue to offer insight into what’s top-of-mind in the treasury and financial industries during the pandemic, and how practitioners are viewing the recovery timeline.
To be a meaningful resource, the Global Recovery Monitor needs consistent participation from those in the treasury and finance trenches. To add your voice to the results, take the survey here.
For further insights into the payments industry and beyond, subscribe now to SmartPayments.com and stay up-to-date on the latest trends and topics. You can also check out The Payments Podcast, where experts weigh-in on real-time factors impacting the payments industry.