Wondering how to prevent fraud in business? Educating employees on how to recognize and report fraud is a great place to start.

According to the 2022 AFP Payments Fraud and Control Survey, 71% of organizations were targets of payment fraud in 2021. Payment fraud may be initiated by external cybercriminals or hackers, or it may be committed by employees. Whether you’re concerned about online fraud or occupational fraud, your employees can play a significant role in helping you identify potential risks.

Read our tip sheet to learn more about how to get your employees involved in your organization’s fraud prevention strategy. Our top tips include:

• Educating employees on fraud risks
• Eliminating opportunities for employee fraud
• Setting up an anonymous reporting mechanism, such as a fraud hotline

If you’d like more information on how to protect your business from fraud, reach out to our treasury management specialists. We’re dedicated to helping your company stay secure.