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The Fintech Times

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UK SMEs Are Concerned About Preparedness For Cyberattacks as Fraud Rises Finds Mollie

  • Small and medium-sized enterprises (SMEs) in the UK are unprepared for cyberattacks amidst a rise in fraud, according to a study by Mollie.
  • 5.5 million SMEs lost £10,800 this year due to fraud, causing significant concern for their survival.
  • SMEs are increasingly facing phishing scams, refund fraud, account takeover attempts, chargebacks, and carding attacks.
  • Online fraud not only affects the finances but also impacts the productivity of small businesses, diverting resources from core operations.

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