Financial Fraud, Payment Fraud - Can You Spot the Risks?

When money is the lifeblood of your organisation, you don’t want to leave yourself open to payment fraud.

Financial fraud is ever-changing and being able to spot it is increasingly difficult. It may surprise you that 36% of all organisations have been attacked from outside as well as within, and companies tend to have misconceptions about payment fraud in three areas:

• People: Do you know who the most likely candidate is to make fraudulent payments?
• Clue – he doesn’t wear a hoody and is likely to work in finance
• Process: Invoice and payment fraud is on the rise by 71%
• Technology: You need the right technology to power and protect your payments against financial fraud, but if it’s outdated you may not be alerted to payment diversion happening inside your business.

Watch our short video to explore the common myths associated with payment fraud, why these are making it easy for criminals to infiltrate your payment process, and how to address the growing risks of financial fraud to UK businesses.