Preventing payment fraud and shadow spending
Nanonets
MAY 31, 2023
billion in 2027, marking a 25% rise compared to 2020. Satyam Computer Services , an Indian IT services company, faced a major financial shadow spend scandal in 2009. Payment fraud has tripled from $9.84 billion in 2011 to $32.39 billion in 2020 globally. It is projected to continue increasing, reaching an estimated cost of $40.62
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