Businesses incur greater losses year-on-year due to payment fraud
Bottomline’s 2020 Business Payments Barometer reveals that while the money lost due to fraud has increased, individual occurrences have decreased.
The number of respondents indicating that fraud impacted their business has dropped from 45% in 2019 to 34% in 2020. Small and medium businesses have seen their total losses increase by 14% and 38% respectively, whereas enterprise organisations recorded a 4% decrease.
