Fraud is costing businesses MILLIONS

Have you ever considered how much fraud might be costing your business?

It's common to think of fraud as an issue for large corporations with thousands of employees and specialized security teams.

However, this is a risky assumption.

Fraud is an increasing threat to businesses of all sizes, and small to medium-sized enterprises are often more vulnerable.

Why is this the case?

Because they usually lack the same protective measures, resources, or formal training.

I'm specifically referring to identity fraud, where someone impersonates a trusted contact (such as your staff, suppliers, or customers) to steal money, access data, or compromise systems.

This could involve a fake email from someone pretending to be your finance manager requesting an urgent payment or a cybercriminal using stolen login details to access sensitive business tools.

The most common entry point? Stolen usernames and passwords—a tactic that remains effective.

With modern AI tools, scams are becoming more difficult to detect. Criminals can now create fake emails, voices, and even videos that closely mimic the real thing.

About 69% of businesses report an increase in fraud attempts.

There is positive news.

Businesses that implement enhanced identity protection, such as biometric logins, device recognition, and AI-driven fraud detection, are experiencing significant benefits. Many are reporting substantial savings and reduced fraud-related expenses.

Even minor improvements can have a major impact. Start by evaluating your login practices:

·         Are passwords randomly generated and used only once per application?

·         Do you use multi-factor authentication, requiring a code on another device to verify your identity?

·         Is your team trained to recognize suspicious emails or messages?

The aim isn't to complicate things but to create smart, user-friendly security that protects your business without hindering operations.

Need assistance reviewing your current setup or deciding which tools are best for your needs? My team and I are ready to help. Contact us.