Seventy-nine percent of organizations experienced attempted or actual payments fraud in 2024, underscoring the persistent threat of financial fraud.

Just 22% of organizations that experienced payments fraud were able to recover 75% or more of lost funds, the Association for Financial Professionals said today in a release referencing data from its 2025 AFP Payments Fraud and Control Survey, which surveyed 521 treasury practitioners.

Some key findings from the survey:

• Checks remain the most targeted payment method, with 63% of respondents reporting fraud attempts or incidents involving checks;
• Business Email Compromise (BEC) continues to be a significant threat, with 58% of organizations reporting BEC incidents;
• ACH payment BEC scams reached 50% in 2024 compared with 47% in 2023; and
• Organizations are adopting various measures to combat fraud, including implementing positive pay systems, daily reconciliations and employee training programs.​

“The reality is, while the threat landscape is evolving, vigilance alone isn’t enough,” said Chris Ward, head of enterprise payments at Truist, which served as the survey’s underwriter.

Organizations must stay ahead of increasingly sophisticated scams by developing proactive solutions that anticipate fraud before it occurs, Ward said.