As the technology which automates our payments processes develop, so too do the skills and tools of those who wish to defraud us.
2017 saw reported frauds hitting a 15-year high of £2.11bn according to accounting firm BDO. Of this figure, the largest chunk – £474m – could be attributed to the actions of employees. The scale of these figures begs the question whether companies are doing enough to educate themselves of the risks of fraud and take the necessary subsequent steps.
To try and better understand where and how businesses are mitigating against fraud and discuss the most pertinent risks, AccessPay held a roundtable with an eclectic mix of industry professionals and experts. Discussion centred around the need for corporates to be more open with their experiences of payment fraud to enable tech innovators to develop true automated AI capability that will drastically reduce the threat
for the UK corporate community.
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