(BPT) - Whether your business is small, medium or large, as an owner you're probably all too familiar with the threats of payment fraud. A proactive approach can make a big difference in reducing your chances of experiencing this common type of fraud, saving you significant time, money and stress.
A whopping 74% of businesses were victims of payment fraud, according to the 2017 Association for Financial Professionals (AFP) Payments Fraud and Control Survey. What’s more, 75% of that fraud was from check fraud. According to the AFP survey, the top three types of business payment fraud are: