Most small businesses are not protected against losses due to cybercriminals hacking into their accounts. Banks claim that the business should do more to protect their accounts against these criminals, while businesses believe that the banks should be monitoring their accounts more closely.
Cybercrooks are stealing as much as $1 billion a year from accounts of small and midsized companies in the U.S. and Europe, according to Dell SecureWorks. These accounts are typically not protected by fraud insurance, so businesses are fully responsible for the losses. What is your bank’s policy if your business account is compromised?Read the full story »