The Rise in AP Fraud – Frequency, Sophistication, and Impact 

In recent years, Accounts Payable (AP) fraud has become an increasingly significant concern for organizations worldwide. The growing frequency and sophistication of fraud attempts have left many companies struggling to keep up. This report, created in collaboration with sharedserviceslink, collates the thoughts of 100 global business leaders and CFOs on their organization’s current exposure to financial fraud, and what protection measures they have in place. We highlight the key statistics and trends that every organization should be aware of. 

Key Insights:

• 68% of organizations encountered at least one fraud attempt in 2024, underscoring the persistent threat to businesses of all sizes and industries.
• 62% of respondents identified generative AI as a primary contributor to the increase in fraud, with these tools facilitating increasingly sophisticated and highly convincing fraudulent communications and materials.  
• Only 31% use automated fraud detection tools. Such reliance on manual processes leaves many organizations vulnerable to fraud.

Discover the detailed findings and insights on the rise in AP fraud, including the key drivers, challenges, and recommended prevention measures. This comprehensive report will help you understand the current landscape and equip your organization with the knowledge to combat AP fraud effectively.