Percentages of payment fraud by checks and other payment types

The graph below was created using Google’s charting tools.

The vertical bar graph shows, by percentages, fraud attempts (and successes) at reporting organizations by payment type.  For example, 90 % of surveyed organizations reported fraud attempts (and successes) using checks, 25 % of reporting organizations had fraud attempts using ACH debits, etc.

The results shown on the graph were obtained by an Association for Financial Professionals survey conducted in 2010, entitled “2010 AFP Payments Fraud and Control Survey – Report of Survey Results”.

Other survey results indicate what organizations attempted in order to prevent fraud success and the numbers of organizations reporting fraud attempts.

More details from the survey can be read by clicking here.

Methods used for cross border payments

The graph below was created using Google’s charting tools.

This vertical bar graph shows the methods and their frequency (by percentage of the total) that companies use to make cross-border payments.

The data was obtained through survey by the Association of Financial Professionals and is reported in their study entitled “2010 AFP Payments Survey”.  Besides the data shown in the graph, the study has much other useful information on electronic payments by companies.

The study can be read by clicking here and then clicking “2010 Electronic Payments Survey” under Surveys. (Presented as a PDF file.)

Systems Used for Initiating Wire Transfers

The two graphs below were created using Google’s charting tools.

The two graphs show what automated and manual systems companies use in processing incoming and outgoing wires.  The data were obtained through survey.  Obviously, several companies, if not all, use more than one of the systems in their wire processing.

The data in the graphs were obtained from a 2009 Association for Financial Professionals study entitled “Providing Remittance Information with Wire Transfers”.  This study can be read by clicking here.

In addition to providing such data seen in the graphs, the study also discusses the need for additional information to be attached to wire transfers in order to improve company wire processing.

These two graphs and the study might be useful to companies evaluating their wire transfer processes.

Primary Payment Methods by Major Business Customers

The graph below was created using Google’s charting tools.

This vertical bar graph shows how often payment methods were used, as a percentage of the total payments, to pay major customers.

The data for this graph was taken from a 2010 survey conducted by the Association for Financial Professionals titled “2010 AFP Electronic Payments – Report of Survey Results”.

Besides the data in the graph, much other useful data and several useful conclusions about payments are in the report.

The report can be read by clicking here (PDF file).

Payment Method Used to Pay Major Suppliers

The graph below was created using Google’s charting tools.

This vertical bar graph shows how often payment methods were used, as a percentage of the total payments, to pay major suppliers.

The data for this graph was taken from a 2010 survey conducted by the Association for Financial Professionals titled “2010 AFP Electronic Payments – Report of Survey Results”.

Besides the data in the graph, much other useful data and several useful conclusions about payments are in the report.

The report can be read by clicking here (PDF file).

Trends in US non-cash payments types from 2003 to 2006

The graph below was created using Google’s graphing tools.

This vertical bar graph shows the trends in non-cash payments from 2003 to 2006.  The graph shows the percentage of all non-cash payments in 2003 and 2006 by five payment types: checks; debit card; credit card; ACH; and electronic benefits transfer (EBT).  From these percentages, calculations show: payments by check decreased 29%; payments by debit card increased 41%; credit card payment percentages remained unchanged; ACH payments increased by 47%; and EBT payments increased by 20%.

Although the data is dated (2003 – 2006), the data is from a very reliable source (the Federal Reserve Board).  It is very likely that percentage change trends for these five payment types have continued beyond 2006.

The Federal Reserve Board study that provides this data can be read by clicking here (PDF file).   Another Federal Reserve Board study that analyses this and related payment information can be read by clicking here (PDF file).  These studies provide in-depth analysis of payment activity in the United States for the time period covered.

Suspicious activities reported by banks to US Government 2001 to 2010

The graph below was created using Google's charting tools.

This vertical bar graph shows the top 11 suspicious activities reported by US banks (depository institutions) to the US government as a percentage of the total number of all suspicious activities reported.

The data in the graph was obtained from a US Department of the Treasury report titled “The SAR Activity Review – By the Numbers” and Excel spreadsheets that can be linked to from the report.  To read this report click here (PDF file).

The US government requires banks (depository institutions) and certain other businesses (money services; casinos; and the securities industry) to report suspicious activities using a reporting system program.  More can be read about this reporting system program by going to the Treasury Department agency (The Financial Crimes Enforcement Network or FinCEN)’s website responsible for the reporting system program.  Click here to go to this website.