News Summary

• 88% of organizations are using AI in at least one business function, up from 55% in 2023.
• Four in 10 organizations have experienced invoice fraud or overpayment in the last 12 months.
• Fraudsters can easily access public information, such as vendor and employee details, and use it to create phony payment requests that blend in with legitimate transactions.
• Many still rely on manual reviews and disconnected systems, which may detect glaring issues, but often miss the nuanced patterns of AI-powered fraud.
• But while AI is fueling the uptick in invoice fraud, it’s also becoming one of the most powerful ways to defend against it.