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Crooks have redoubled their efforts to target small businesses in recent months.
Ever since the Target breach, every major publicly traded corporation in both the United States and Europe has been working to beef up security. Small businesses, however, don’t have the luxury of IT departments or technology departments to do that. So crooks have pivoted to the easy pickings.
According to a recent New York Times story, more than 10% of small businesses have now had funds stolen from bank accounts, with loses amounting in the billions.
Under the current law, a business is not protected by a bank when a hacker breaks into a business account. So a business that you spent years or decades building — or even generations if it’s a family business — could be out of business overnight.
Read more: Cheap retirement plan options for small businesses
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This post was last modified on February 21, 2019 4:14 pm
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