Fraud is costing businesses MILLIONS
- Tom Wyant

- Jul 14
- 2 min read
Updated: Oct 6
Have you ever thought about how much fraud could be hurting your business?
Many people think fraud only happens to big companies with thousands of workers and big security teams.
But that’s not true.
Fraud is growing fast—and small and medium businesses are often hit the hardest.
Why? Because they don’t always have strong protection, enough resources, or proper training.
This is about identity fraud—when a scammer pretends to be someone you trust, like a coworker, supplier, or customer. They do this to steal money, data, or access to your systems.
It could be an email that looks like it’s from your finance manager, asking for an urgent payment. Or a criminal using a stolen login to break into your business tools.
How do they get in? Most of the time, it’s by stealing usernames and passwords.
It’s an old trick, but it still works.
With new AI technology, scams are harder to notice. Criminals can now fake emails, voices, and even videos that seem totally real.
About 69% of businesses say fraud attempts have increased.
The good news? Companies that use better identity protection—like fingerprint logins, device recognition, and AI to catch fraud—are seeing great results. Many save money and avoid losses.
Even small changes can help a lot. Start by checking how your team logs in:
Do they use strong, random passwords that aren’t reused on other sites?
Do you have multi-factor authentication (MFA), where you need a second device to confirm it’s you?
Has your team been trained to spot scam emails or fake messages?
Good security doesn’t have to be a pain. It should be simple, smart, and easy to use—while keeping your business safe.
Need help checking your security or choosing the right tools? We’re here to help—just reach out.







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