The Finance Leaders' Fraud Report 2026, published by IFOL and sponsored by SAP Concur, reveals only 22% of finance leaders feel well protected, down from 32% last year. Fraud is harder to detect, AI adoption is insufficient, and training is lacking. 62% of organizations experienced fraud losses in the past three years.
The seventh annual SAP Concur Global Business Travel Survey added CFO perspectives, surveying 600 CFOs across six markets. 55% of CFOs expect AI to catch more errors and potential fraud than their teams currently do, while 45% are concerned about more errors and undiscovered fraud slipping through. 9% of CFOs know employees are using AI to attempt to falsify travel expenses or receipts, and 67% say it is at least somewhat likely.
SAP Concur blog post highlights that fraud threatens all businesses, with typical organizations losing 5% of annual revenues to fraud each year. It recommends proactive steps including preapproval systems, audit rules, mandatory corporate card programs, and leveraging data sharing and trend identification to spot red flags.
The UK Office for National Statistics reports that cybercrime and fraud account for almost half of all national incidents of crimes. The Cyber Security Breaches Survey 2017 revealed that 46% of businesses experienced a cyber breach or attack between 2016 and 2017. SMBs lose an estimated £1,658 to invoice fraud each year. Businesses need to be aware of risks and implement controls, such as automating expense and invoice processes.
SAP Concur blog discusses fraud challenges during the pandemic, citing ACFE report: typical fraud lasts 14 months, costing $8,300 per month, and 5% of annual revenues lost to fraud. Recommendations include random audits, AI/ML use, and reviewing unusual spend.