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Business email compromise is a top concern for banks

February 19, 2021

Bottomline and Strategic Treasurer released the results of a survey that gathered details about corporate and banking experiences, actions and plans regarding fraud. Results show that the pandemic accelerated both the threat of fraud and the response to it, with corporate and banking alignment on defensive automation.

Banks worry about business email compromise

  • Spending more/significantly more on security is a 3-year trend (2019: 17%; 2020: 19%; 2021: 22%).
  • 86% of respondents from banks perceive business email compromise / authorized fraud to be the greatest risk to their business over the next 1-2 years.
  • 21% of fraud experiences had a COVID-19 connection.

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