Businesses Reassess Fraud Risk In Instant Payments

PYMNTS Intelligence’s January Money Mobility Tracker finds businesses overestimate fraud risk in instant payments, noting legacy checks carry far higher exposure. The report shows 16% of firms experienced payment fraud in the past year, checks are 16 times likelier to be lost, stolen or altered than electronic transfers, and over 40% of fraud attempts now involve AI with average losses above $400,000. It recommends investing in real-time monitoring and governance.