Small Businesses In The Crosshairs Of Utility Fraud

As small businesses (SMBs) heighten their awareness of fraud and cybercrime, fraudsters add to their own lists of tactics to steal money. Recent years have shed light on the Business Email Compromise (BEC), ransomware and phishing (just to name a few), with cybercriminals taking advantage of vulnerabilities in the B2B payments process to score. Rising awareness means growing investments in cybersecurity tools. Sometimes, though, the most effective tactic to steal funds from a small business is one that doesn’t use sophisticated technology, but plays on human emotions. Such is the case in utility scams, a growing threat to small businesses, according to Terry Roberds, director of corporate security for Missouri-based power company Ameren. The company is currently positioning itself as an unlikely fighter on the front lines against SMB fraud.