Payment fraud is a nightmare scenario for any business. Irrespective of size, companies face substantial financial and reputational harm resulting from fraudulent activity. Depending on the severity of the crime and the losses incurred, the very survival of the business may be at stake. Ryan Mer, CEO at eftsure Africa, a Know Your Payee™ (KYP) platform […]
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Global losses from payment fraud have tripled from US$9.84 billion in 2011 to US$32.39 billion in 2020, according to Deutsche Bank’s 2021 report on the future of payments. And financial professionals are saying COVID-19 hasn’t helped matters, with 65% believing that the global pandemic is to blame for some of the accelerated rate in fraud […]