Federal Trade Commission data shows that consumers reported losing more than $5.8 billion to fraud in 2021, an increase of more than 70% over the previous year. On the corporate side, the 2022 AFP Payments Fraud and Control Survey indicates that 71% of organizations were victims of payments fraud attacks or attempts in 2021; checks and ACH debits were the payment methods most impacted by fraud activity (66% and 37%, respectively).
Recognizing that fraud recognition, prevention, and mitigation is a critical component of your payments strategy, ePay is excited to launch our new Fraud Forum, a private online community where financial institution members can network to share insight on the latest payments fraud schemes and collaborate on sound business practices for mitigation.
ePay’s Fraud Forum will launch in the Connections Member Community on September 30, 2022. For more information contact Yasmin Porcaro, VP, Member & Industry Relations, at email@example.com.