Results from the 2025 AFP® Payments Fraud and Control Survey, indicate that 79% of organizations were victims of payments fraud attacks/attempts in 2024. Business email compromise (BEC) remains a significant threat; 63% of respondents cite it as the number one avenue for fraud attempts. Over 500 treasury practitioners participated in this survey and their responses form the basis of this report. The survey, now in its 21^st year, is underwritten by Truist.  

Other survey highlights:

• Checks continue to be the payment method most often subjected to fraud, with 63% of respondents reporting that their organizations faced check fraud in 2024.
• Wire transfers reclaimed the top spot as the most vulnerable payment type targeted by BEC, surpassing ACH credits.
• BEC scam tactics are changing. Incidences of fraudsters impersonating senior executives directing the transfer of funds into the fraudsters’ accounts dropped 8 percentage points to 49%. Vendor impersonation experienced a slight increase — cited by 60% of respondents — while third-party impersonation remained the most frequent type of BEC scam at 63%.
• Twenty-two percent of organizations were able to recover 75% or more of the funds lost due to payments fraud in 2024. This is a sharp decrease from 2023 when 41% of organizations recovered the same amount. However, 58% of organizations were able to recoup up to 75% of their funds in 2024, up from 29% in 2023.

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Press Inquiries:

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If you are interested in referencing data from this report in marketing materials, etc. please contact Mariam Lamech, Director Survey Research at [email protected].

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Questions about this subject?

Contact Andrew Deichler, Director of Payments Practice at AFP.