Fraud Prevention

Navigating Risks: The Importance of Fraud Prevention Evaluations

by Nick Witthuhn, Kyle Kasbohm

4 minute read time

SUMMARY

Many businesses are seeking ways to protect their companies and employees from fraud attempts, but the topic can feel daunting. This article aims to bring awareness to what’s causing businesses the most heartburn when it comes to fraud attempt or loss situations and the steps you can take to protect your business against these attempts.

The 2025 AFP Payments Fraud and Control Survey reveals that payments fraud remains alarmingly high, with 79% of organizations experiencing actual or attempted fraud in 2024. Business email compromise (BEC) continues to dominate, affecting 63% of companies, with vendor impersonation and spoofed emails on the rise.

Check fraud also persists, with 63% of respondents reporting incidents, despite widespread check usage. Wire transfers have overtaken ACH credits as the most targeted payment method by BEC scams. While 22% of organizations recovered over 75% of lost funds, 20% couldn’t recover any. AI (Artificial Intelligence) is both a threat and a potential defense. Despite growing awareness and improved controls, fraudsters are adapting quickly, underscoring the need for stronger prevention strategies and employee training.

So, how can you mitigate the risk of fraud at your organization?

We know that protecting your business takes attention and planning. To help consolidate the steps you can take, we put together a fraud prevention evaluation that walks you through a key list of questions and answers bucketed by important fraud prevention categories. To download the full set of fraud prevention evaluation steps and get a quick pulse for your fraud protection wellness, click here.

What role can Johnson Financial Group play in helping your organization avoid fraud attempts?

The good news is there are some ways you can lower the risk of fraud impacting your business. While there are some great internal steps your organization can take, which we shared in the fraud prevention evaluation, there are some treasury management solutions that can decrease your exposure to fraud:

For more information, connect with your relationship manager or treasury management consultant or visit the following resources: commercial fraud prevention, business protection tips and security tips.

Source: 2025 AFP Payments Fraud and Control Survey Report