Cybercrime has been a long-standing risk for anyone who does business online. However, it’s taking a heavy toll on small American companies, costing more than $1 billion per year, according to the Public Private Strategies Institute.
Those who’ve dealt with online fraud attempts say the attacks—including phishing, email scams, fake orders, and ransomware—are getting more sophisticated as artificial intelligence (AI) capabilities expand.
Cybercrime experts say AI-driven digital fraud will only get worse, and there are reasons criminals find high success rates when targeting smaller enterprises.
“Small businesses are typically more vulnerable since they don’t have the depth of knowledge or resources to identify and remediate vulnerabilities in their IT infrastructure that would assist them with identifying these threats,” Daniel Ward, IT and Cybersecurity program coordinator for Southern New Hampshire University, told The Epoch Times….