The Association for Financial Professionals (AFP) released its 2026 AFP Payments Fraud and Control Survey Report, underwritten by Truist, demonstrating how payments fraud remains a persistent risk for organizations of all sizes.

Key takeaways

• Payments fraud exposure: More than three-quarters of organizations (76%) in the United States experienced attempted or actual payments fraud in 2025.
• Lag in AI adoption: Just 17% of organizations leverage AI to combat payments fraud.
• Effectiveness of AI: Organizations using AI for fraud mitigation reported enhanced efficiency in fraud reporting (49%), improved detection of deepfake technology (45%) and real-time identification capabilities (43%).
• Most targeted payment method: Over half of organizations (58%) reported that checks are subject to fraud.
• Increase in BEC attacks: About three in four organizations (74%) were affected by business email compromise (BEC) in 2025.

Why it matters
Payments fraud remains a pervasive threat to U.S. businesses. While AI technology has been shown to enhance fraud detection, many organizations are slow to adopt it due to concerns about costs, the perceived immaturity of the technology, and reliance on existing controls or partners. This delay, combined with ongoing reliance on checks and a rise in BEC attacks, leaves organizations vulnerable to significant, often unrecoverable financial losses.

Check usage persists in spite of vulnerabilities
Even though checks are the payment method most frequently affected by fraud, 72% of organizations using checks plan to continue using them for the foreseeable future. Over two-thirds of these organizations (68%) cited vendor requirements as a reason for their decision.

Treasury's role in fraud detection, reporting and recovery
Survey respondents cited treasury as the department most likely to discover attempted fraud (83%) and actual fraud (55%). Treasury plays a critical role not just in detecting but also in responding to fraud. It monitors bank activity, manages controls and coordinates recovery efforts, often in collaboration with the accounts payable function and banking and vendor partners.

Key quotes
"AFP's survey demonstrates how the treasury function has solidified its role as a primary line of defense against fraud. Integrating AI-powered technologies with traditional controls will ensure the profession stays ahead of evolving fraud tactics as a continuous improvement," said Tom Hunt, CTP, Director of Treasury Practice, AFP.

"Fraud prevention today is an operating model, not a single control," said Chris Ward, Truist Head of Enterprise Payments. "The best outcomes come from strengthening the fundamentals — verification, disciplined approvals and timely detection — and using technology to reinforce trust as payments move faster. At Truist, that's how we show up: with simplicity, speed, safety and smart execution."