Trustpair

Nearly 48% of respondents identify cyber attacks as their biggest hurdle in fraud prevention.

44% of executives claim they are “very confident” in their teams’ abilities to detect fraud.

42% of companies experienced at least two successful fraud attacks.

Nearly 88% of UK businesses identified cyber fraud as a significant driver of payment fraud.

21% of fraud victims report average losses of £500,000 per attack.

94% of businesses increased their investment in fraud prevention technologies last year.

93% of UK companies experienced vendor fraud in 2024.

70% of companies still widely use manual methods, such as callbacks and email-based validations.

1 in 10 companies performs consistent checks throughout the supplier payment process.

Only 33% of companies have automated fraud prevention systems in place.

97% of executives believe their teams can identify advanced fraud tactics.

73% expect risks of fraud to grow in 2025.