Payments Fraud Remains Persistent Risk for U.S. Businesses

AFP survey highlights surge in business email compromise and enduring check vulnerabilities

Apr. 15, 2026 at 5:05am

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A photorealistic studio still life featuring a stack of business documents, a pen, and a calculator arranged on a clean white background, symbolizing the need for corporate finance and risk management strategies to combat payments fraud.As payments fraud remains a persistent threat, organizations must strengthen fundamental controls and leverage AI-powered technologies to protect against financial losses.Rockville Today

The Association for Financial Professionals (AFP) released its 2026 AFP Payments Fraud and Control Survey Report, underwritten by Truist, demonstrating how payments fraud remains a persistent risk for organizations of all sizes. The report found that over 75% of U.S. firms experienced payments fraud in 2025, while AI adoption for fraud mitigation lags.

Why it matters

Payments fraud remains a pervasive threat to U.S. businesses. While AI technology has been shown to enhance fraud detection, many organizations are slow to adopt it due to concerns about costs, the perceived immaturity of the technology, and reliance on existing controls or partners. This delay, combined with ongoing reliance on checks and a rise in BEC attacks, leaves organizations vulnerable to significant, often unrecoverable financial losses.

The details

The survey found that just 17% of organizations leverage AI to combat payments fraud, even though organizations using AI for fraud mitigation reported enhanced efficiency in fraud reporting (49%), improved detection of deepfake technology (45%) and real-time identification capabilities (43%). Over half of organizations (58%) reported that checks are subject to fraud, and about three in four organizations (74%) were affected by business email compromise (BEC) in 2025.

  • The 2026 AFP Payments Fraud and Control Survey was conducted in January 2026.
  • The survey found that over 75% of U.S. firms experienced payments fraud in 2025.

The players

Association for Financial Professionals (AFP)

The professional society committed to advancing the success of treasury and finance members and their organizations. Established and administered by AFP, the Certified Treasury Professional and Certified Corporate FP&A Professional credentials set standards of excellence in treasury and finance.

Truist

The financial services company that underwrote the 2026 AFP Payments Fraud and Control Survey Report.

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What they’re saying

“Integrating AI-powered technologies with traditional controls will ensure the profession stays ahead of evolving fraud tactics as a continuous improvement.”

— Tom Hunt, CTP, Director of Treasury Practice, AFP

“Fraud prevention today is an operating model, not a single control. The best outcomes come from strengthening the fundamentals — verification, disciplined approvals and timely detection — and using technology to reinforce trust as payments move faster. At Truist, that's how we show up: with simplicity, speed, safety and smart execution.”

— Chris Ward, Truist Head of Enterprise Payments

The takeaway

The survey highlights the need for organizations to adopt AI-powered fraud detection technologies and strengthen fundamental controls around payments processing to stay ahead of evolving fraud tactics and protect against significant financial losses.