According to the data, what percentage of financial institutions reported experiencing attempted payment fraud in 2017?

The appropriate answer to this question highlights that 71% of financial institutions reported experiencing attempted payment fraud in 2017, which underscores a significant prevalence of this type of fraud within the financial sector. This high percentage indicates the widespread nature of attempted payment fraud, suggesting that many institutions have become closer to understanding and addressing this issue through improved security measures and fraud detection systems. The figure also reflects the challenges faced by financial institutions in combating emerging threats, emphasizing the importance of ongoing vigilance and proactive strategies to mitigate fraud risks. Understanding this statistic is essential for professionals in the field, as it illustrates the critical need for robust security practices and awareness of fraud trends affecting the financial industry.