06/19/2024

Survey Finds Business Owners Increasingly Worry about Payment Fraud

Forty-four percent were worried about unauthorized transactions

Small businesses are increasingly concerned about payment fraud.

That is according to a small business survey from regional bank KeyBank. Nearly 2,000 small-to-medium size business with annual revenue of less than $10 million were surveyed.

The top concern among survey participants was payment fraud of various types. Forty-four percent were worried about unauthorized transactions or unauthorized electric fund transfers; 37 percent were concerned about identity theft; 28 percent said malware and ransomware attacks were their biggest concern; and 27 percent were worried about phishing and email scams.

Please select this link to read the complete article from The Associated Press.