Small businesses are increasingly concerned about payment fraud, according to a recent survey conducted by regional bank KeyBank. The survey, which included nearly 2,000 small-to-medium size businesses with annual revenue of less than $10 million, revealed that payment fraud is a top concern among participants.
Specifically, 44% of respondents expressed worry about unauthorized transactions or unauthorized electronic fund transfers, while 37% were concerned about identity theft. Additionally, 28% cited malware and ransomware attacks as their biggest concern, and 27% were worried about phishing and email scams.
