Business owners increasingly worry about payment fraud, survey finds

By MAE ANDERSON
AP Business Writer

NEW YORK (AP) — Small businesses are increasingly concerned about payment fraud. In a recent survey from KeyBank, 44% of small business owners said they worried about unauthorized transactions or unauthorized electric fund transfers; 37% were concerned about identity theft; 28% said malware and ransomware attacks were their biggest concern; and 27% were worried about phishing and email scams. Other challenges businesses face in coming months include high overhead costs, delayed payments from clients or customers, and fluctuating revenue. KeyBank surveyed nearly 2,000 small-to-medium size business with annual revenue of less than $10 million.