In 2014, the Federal Reserve Bank of Boston's Payment Strategies group conducted research on payments-related fraud experienced by financial institutions (FIs) as well as non-financial institutions (non-FIs) in the First District.1 We asked our constituents to share their experiences with payments fraud and the methods they used to reduce fraud risk through an online survey. The survey covered transactions made using cash, check, debit and credit cards, prepaid cards, the automated clearinghouse (ACH), and wire transfers.