The Small Business Fraud Report

Report

The Vocalink Analytics Small Business Fraud Report is considered the annual and definitive barometer for payments-related small business fraud in the UK.  This year’s report has been expanded to incorporate US businesses. 

The most surprising and concerning finding is that there has been no improvement in the level of awareness of payments fraud amongst UK small business owners, entrepreneurs and board members. Additionally, our research shows:

  • In 2016, 32% were unaware of this type of fraud and this barely moved in 2017 to 31%. The situation is no better in the US, where just over a third of small businesses say they are unaware
  • 57% of UK small business owners and 56% of UK board members stated that they didn’t believe invoice redirection, mandate and CEO fraud were a genuine risk to the business. In 2016, this was 48% of UK small business owners and 57% of UK board members

  • 71% of UK small businesses, that have been victims of payments related fraud, believe that it is now the biggest risk to their business, and 71% also worry that it will be an even bigger issue for them in 2018. 66% in the US worry that it will be a bigger issue in 2018.

 

Download the report to learn more…

Small Business Fraud Report

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