New research available The 2026 Financial Census report is now available. Read the latest report here.
Financial Census 2022
Messy paper trails and manual processes make invoice fraud easy.
Organized crime—yes, that organized crime— is becoming more professional, and along with a few rogue individuals, is thriving on disorganized invoice processes.
95% of businesses have seen invoice fraud in the last year.
34,000 cases across the 2,750 businesses sampled globally.
1 case per month, on average, but 19% of business have seen as many as 30 cases in the last year.
25% of finance professionals are unable to estimate how much fraud is costing them—because they’re often unaware that it’s happening—but the other 75% put the cost at well over a quarter of a million dollars annually.
Finance leaders are trying to take on fraud, but mostly on their own.
57% of businesses say the responsibility to fight fraud is NOT shared between finance and IT.
Only 42% of companies collaborate to prevent and catch payment fraud.
Validate important vendor data—make sure they are who they say they are.
Build in some regulations and a few checks and balances.
Invest in anomaly-detection technology, so if something isn’t right, it stands out.
Automate payments and protect the invoice process, end to end.
If you want to dive deeper and fight fraud more effectively, listen to our podcast series "Accounts Deceivable" to hear real life stories about the devastating impact fraud has on people, companies and communities.