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Bottomline Technologies – Businesses hit hard by increasing rates of fraud

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A new study has revealed that 87% of financial decision-makers in businesses across Great Britain are unable to recover more than half of their losses caused by fraud, with the figure rising to 93% among small and medium businesses specifically.

The average financial loss through fraud sits at £240,092, with the majority of fraud losses having increased from within the £10,000-£49,000 bracket in 2018 to between £50,000 and £250,000 this year.

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