Data Loss

Small businesses are big targets for fund transfer fraud

siteadmin March 1, 2022
During the first half of 2021, Coalition saw a surge of these attacks and initial fund transfer fraud losses reached an average of $388,000 (before accounting for recovered funds). In the second half the average initial loss did temper some as it dropped 11% to $347,000. However, that was still 78% above initial average losses from 2020. (Credit: fizkes/Adobe Stock) During the first half of 2021, Coalition saw a surge of these attacks and initial fund transfer fraud losses reached an average of $388,000 (before accounting for recovered funds). In the second half, the average initial loss did temper some as it dropped 11% to $347,000. However, that was…

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