Defend Against Business Email Compromise Fraud: A New Business As Usual

As fraud schemes become more sophisticated, financial organizations can’t solely rely on having a sharp eye. Well-established workflows and systems must be in place ahead of time. In 2020, 74% of financial professionals in the U.S. reported their organizations were targets of payment fraud, according to the Association for Financial Professionals’ 2021 survey on payments fraud and controls. Nearly everyone is familiar with the term phishing.

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