Tag: Fraud

A staggering $3.5 billion was lost due to imposter scams in 2025, according to the Federal Trade Commission, nearly triple the reported losses seen in 2020. New data shows that imposter scams were reported more than any other form of fraud, representing a third of fraud reports last year.

In recent years, credit card fraud has loomed larger in the business credit community, whether it’s during counter transactions or online ordering. It is critical that credit teams know what credit card fraud looks like, even as it changes each day with advancing technology, to effectively spot and stop it wherever it may appear.

A recent arrest tied to a significant fraud ring highlights the powerful results that can be achieved through advanced risk management, real-time intelligence and coordinated teamwork. On Friday, March 20, law enforcement apprehended suspects in Forest Hill, Maryland, marking a major milestone in an investigation that directly impacted NACM-member businesses.

Credit managers encounter financial fraud every day, whether it is as simple as a spoofed phone call mimicking an established customer or the manipulation of a compromised email. Equipped with ever-evolving technology, fraudsters are more empowered than ever before, requiring credit professionals to be diligent in every facet of their work.

As technology continuously reshapes the business-to-business credit field, the risk landscape transforms as fraudsters manipulate newer technology to attack businesses. With artificial intelligence becoming more advanced, credit managers are raising their defenses against synthetic fraud as it takes on new forms each day.

For credit managers working in construction, being proactive when it comes to fraud can be hard. With so many different schemes orchestrated to swindle your company out of materials or money, it can be a real nightmare for credit managers to know what to look out for, especially as fraudsters adapt.

During vendor selection, customers are expected to compare and negotiate terms. But what might lead them to switch to a new vendor, even if the current one is a good fit?

Automation and technological advancements have gained a significant presence in everyday credit processes—whether to provide easier ways to receive payments, communication with customers or overall efficiency. However, technological innovations always come with risk.

The Financial Crimes Enforcement Network (FinCEN) and Internal Revenue Service (IRS) Criminal Investigation Department issued a notice of attention to a notable increase in state and federal payroll tax evasion and workers’ compensation insurance fraud in the residential and commercial real estate construction industries.