Fraud Won’t Wait: Misalignment Costs Millions

The latest research shows that 83% of large enterprises experienced at least one fraud attempt last year and 34% were due to a gap between finance and IT Security team.  Social engineering attacks are becoming more frequent and expensive, with some losses topping $1 million per incident.​

Why Are Attackers Winning?

Criminals are not exploiting computers and compromising technical systems.  Instead they take advantage of the gap between finance and security teams. Nearly half of surveyed leaders admit losses arise from poor collaboration, not just technical glitches. And with AI giving attackers smarter tools, reacting slowly is costly.​

Rethinking Defenses

Gartner predicts that by 2031, companies will consolidate fraud defenses under the cybersecurity umbrella. Our position is that the financial operators must become part of the fraud defense team, as opposed to relying on cybersecurity.  The good news is that organizations don’t have to wait six years for a restructuring. By closing workflow gaps like invoice approvals, vendor onboarding, and manual payment processes, teams can block fraud from slipping through the cracks today.​

Conduit Security’s Solution

Conduit Security’s software empowers your team to close these gaps today and not wait for organizational change. When lines of responsibility are clear and leadership has real-time visibility and tools into the payment process, your organization stays a step ahead of criminals, protecting what matters most before threats turn into losses.

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