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Smaller Businesses, Credit Services Staying Ahead of Fraud?

As the recession took hold a few years back, fraud attempts surged. And some studies, like one released last week by Prolexic Security Engineering & Response Team, found that attempts still are continuing at alarming rates. The Prolexic study noted a massive jump in attempted attacks against its financial services clients during Q4 2011 and Q1 2012. However, that doesn’t appear to be as much the case in the area of direct corporate payments and credit.

A March study conducted by the Association for Financial Professionals (AFP) found attempts at and successful fraud against both large and small corporate firms declined from peak levels in 2011. The study noted the lack of success in fraud attempts causing significant financial losses was because companies “took measures to mitigate exposures…and eliminated vulnerability.”

Courtesy Brian Shappell, CBA, NACM staff writer (National Association of Credit Management)

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