It doesn’t matter whether the news is good or bad—fraudsters see the glass as completely full.

According to the 2009 Association of Financial Professionals Payments and Fraud Control Survey, the growth of electronic payments and the deteriorating financial conditions caused by the recession have both expanded opportunities for fraud. The J.P. Morgan-sponsored survey of 629 corporate treasury and finance professionals including assistant treasurers, controllers, cash managers, analysts, and directors found that more than 70 percent of organizations experienced attempted or actual payments fraud in 2008.

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