Have you ever taken a moment to consider how much fraud might be costing your business? It is easy to assume fraud only affects large organisations with thousands of staff and dedicated security teams. But that is a risky belief. Fraud is a growing threat to businesses of all sizes, and small to medium sized enterprises are often more exposed because they may lack the same levels of protection, resources, or formal training.
One of the most concerning types is identity fraud. This happens when someone impersonates a trusted contact such as a member of your team, a supplier, or a client in order to steal money, access sensitive data, or infiltrate systems. It could be a convincing email from someone pretending to be your finance manager, asking for an urgent payment, or a criminal using stolen login details to breach your tools. The most common method? Stolen usernames and passwords. A long standing trick that still works.
With modern artificial intelligence tools, fraudsters can now produce emails, voices, and even videos that closely resemble the real thing, making scams harder to detect. Around 69 percent of businesses have reported a rise in fraud attempts. However, there is positive news. Organisations that have adopted stronger identity protection methods such as biometric logins, device recognition, and artificial intelligence powered fraud detection are already seeing results. Many are experiencing fewer incidents and significant savings.
Even modest improvements can make a real difference. Start by reviewing your current login practices: Are passwords unique and randomly generated? Do you use multi factor authentication? Has your team been trained to recognise suspicious messages? The goal is not to make work more difficult, but to implement smart and people friendly security that protects your business without slowing it down. If you need support evaluating your current setup or choosing the right tools, my team and I are here to help. Please feel free to get in touch.
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