Akash Bansal

Small Businesses, Big Problems

Source: NetworkWorld, March 08, 2010

A recent study by the U.S. Federal Deposit Insurance Corporation shows that online banking scams have been on the rise since 2007. The FDIC estimates that small and midsize businesses have lost over $120 million in the 3rd quarter of 2009 to scammers with $25 million coming solely from money transfers.

With the growing necessity for online banking, small business owners will continue to take a hit. Networld.com reports that banks have increased security measures around online banking services, but hackers are quickly learning how to bypass these measures, leading them back into the pockets of many small businesses.

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