Each month, the team at Eftsure monitors the headlines for the latest accounts payable (AP) and security news. We bring you all the essential stories in our cyber brief so your team can stay secure.
Clark County School District falls victim to $1.4 million vendor impersonation scam
Four women have been charged after the Clark County School District in Las Vegas was defrauded of roughly $1.4 million through a business email compromise scheme, with one defendant appearing in court in late April. The attackers used email domains nearly identical to the district's and to a legitimate contractor's, redirecting payments to fraudulent accounts.
The case illustrates a familiar pattern in vendor impersonation fraud: subtle look-alike domains, false urgency, and accounting teams under pressure to keep payments moving. In the past quarter, Eftsure has seen similar tactics during thwarted fraud attempts.
Singapore CEO transfers $36.3 million after fake WhatsApp call from "chairman"
A Singapore-based CEO transferred $36.3 million in April after a fake WhatsApp call from someone posing as the company's chairman, with an urgent funding instruction. The case was one of several highlighted by Singapore Police Force's Operation FRONTIER+ III, a two-month transnational scam crackdown.
The money moved across four days before the CEO called the real chairman to verify. Singapore's Anti-Scam Centre recovered $9.7 million; $26.5 million was already offshore. The incident sits inside a wider shift PYMNTS describes, where fraudsters now stage entire video and voice impersonations across multiple channels at once. Read more about how approval culture may have enabled this fraud.
A new CFO.com piece by Gartner analyst Dymah Paige argues that AI-accelerated disinformation has shifted from a reputational nuisance to a measurable enterprise risk that CFOs are best placed to own. Paige groups available defences into three categories of disinformation security tooling and lays out a framework for evaluating spend by its impact on enterprise risk.
It mirrors an argument that we frequently make: CFOs are in the best position to own an anti-cybercrime strategy, and stop fraudsters from exploiting the gaps between finance and security functions.
New report: 76% of organizations hit by payments fraud in 2025
The Association for Financial Professionals has released its 2026 Payments Fraud and Control Survey, finding that 76% of organizations experienced attempted or actual payments fraud in 2025. Business email compromise remains the most prevalent attack type, hitting roughly three-quarters of respondents.
The 22nd annual edition, based on responses from 465 corporate professionals, examines AI-enabled fraud and deepfake technologies as fraud vectors for the first time.
Survey: 97% of finance teams now use AI, only 3% skeptical of payoff
A new Consero Global survey of 102 finance leaders at venture- and private equity-backed companies finds that AI adoption inside finance departments has reached 97%, up from 76% in 2025. Only 3% of finance leaders remain skeptical of future AI payoffs.
More than three-quarters of respondents say their AI investments are already generating positive returns within 12 months.
Fed, Treasury, and FCC launch joint roundtable on payment fraud
Federal Reserve Vice Chair for Supervision Michelle Bowman has announced that the Fed, the US Treasury, and the Federal Communications Commission will convene a public-private roundtable on countering payment fraud. Bowman flagged the initiative at the Women in Housing and Finance Symposium on May 5, 2026.
Participants will be asked to share what their organizations are doing to combat payments fraud, what informal data-sharing arrangements have worked, and where additional cross-sector coordination would help. The Fed's 2025 household survey found that 21% of American adults experienced fraud or scams in 2024, with non-credit-card losses totaling $63 billion.
