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Overview of the Financial Census Findings

Medius, a key player in accounts payable automation and spend management, recently conducted thorough research culminating in its 2026 Financial Census. This study surveyed 2,386 finance executives from various countries including the US, UK, Sweden, and France. The results of this census reveal some startling trends in the finance industry, primarily concerning the normalization of minor fraudulent activities despite increasing concerns over sophisticated AI-generated frauds.

A Growing Trend: Ignoring Fraudulent Activities

One of the most alarming findings is that 87% of finance professionals admitted to ignoring minor expenses, reimbursements, or claims they suspected to be fraudulent. Additionally, 67% of respondents acknowledged that they might consider submitting misleading expense claims if they perceived such behavior as common among their colleagues. This phenomenon, termed 'shallowfakes', reflects a troubling trend where seemingly insignificant dishonest acts accumulate to cause substantial financial loss over time.

Furthermore, nearly three-quarters of finance professionals reported that small fraudulent actions resulting in minor losses are prevalent within their workplaces. Among these, 64% indicated they would feel justified in committing a minor dishonest act if they felt underpaid or undervalued in their roles. Notably, more than half affirmed they would inflate an expense claim if they thought it would go unnoticed.

The AI Factor: Concern and Suspicion

As discussions surrounding AI-generated fraud intensify, a staggering 93% of finance professionals expressed apprehension about the potential for AI-driven scams within the next year. Statistical data points that US organizations face average yearly losses of $168,000 due to invoice fraud, with many experiencing at least one fraud attempt monthly.

Chris Wilmot, the CFO of Medius, highlighted the discrepancy between the notable dangers posed by deepfake fraud—widely reported in the media—and the subtle but destructive nature of shallowfake fraud. He stated, "While finance professionals stay vigilant against major scams, countless dollars slip away unnoticed through micro frauds that organizations fail to catch."

Automation: So Where Are the Delays?

Though 85% of finance teams have noted some level of automation in their accounts payable processes, the data shows that nearly half of all invoices still require manual processing. Reports suggest that about 28% of invoices are paid late monthly, contributing to stress and burnout among accounts payable teams.

The implications of late payments extend beyond the finance departments. Almost half of the respondents stated that delayed payments have led suppliers to impose stricter upfront payment conditions. This issue has driven some suppliers to terminate relationships entirely, while others have downgraded their service quality or escalated disputes to formal legal actions.

Kevin Permenter, the Research Director for Financial Applications at IDC, remarked that despite significant investments in technology, organizations still face payment delays. "Automation should have transformed late payments into an exception rather than a norm," he said. He emphasized that while adopting automation is crucial, ensuring that these investments yield noticeable operational improvements is essential.

Trust Issues in AI Adoption

AI utilization is accelerating in finance departments, with 38% of executives reporting that agentic AI is integrated into some finance processes. Even with 50% planning to deploy such technology shortly, a notable obstacle persists: trust.

A staggering 90% of finance professionals believe there is a need for human approval on financial or compliance decisions, irrespective of the accuracy of AI outputs. As for accountability in the event of an AI-related error causing financial loss, opinions among respondents are evenly split among IT leaders, finance leaders, and the employees implementing AI advice. Notably, 45% of finance leaders acknowledged their teams often acted on AI recommendations without human oversight, creating a contradiction between reliance on AI and the ambiguity regarding governance.

Ahmed Fessi, Medius’s Chief Transformation Information Officer, noted that as organizations begin to trust AI in influencing key decisions, they still face challenges in establishing clear accountability when the system errs. He emphasized that with the rise of autonomous finance processes, governance and accountability must be prioritized alongside accuracy.

AI’s Influence on Employment in Finance

The survey also noted the growing impact of AI on recruitment and performance evaluations within the finance sector. A notable 55% of finance leaders see proficiency in AI as essential during recruitment, while 86% consider employees’ AI usage in performance assessments.

Despite the promise of AI to alleviate mundane tasks and enhance efficiency, it is inadvertently contributing to workforce fatigue and burnout. Approximately 75% of finance professionals indicated that the increased use of AI has heightened stress levels, signaling the need for organizations to manage shifting expectations around technology and productivity effectively.

For more insights, the complete findings of the 2026 Financial Census can be accessed through Medius’s official website.