SunTrust Bank is Getting Involved in Fraud Awareness Week
When 84% of small business owners report being concerned about online fraud issues, there is a clear need to educate . That’s why the Association of Certified Fraud Examiners (ACFE) has organized National Fraud Awareness Week from November 11-17.
As a supporter of Fraud Awareness Week, SunTrust Banks has partnered with the National Small Business Association (NSBA) in the “Foil Fraud” survey to understand the pain point of fraud in small business and to educate small business owners about prevention.
Among the survey findings:
- 84% of small business owners are concerned about fraud in connection to their business finances.
- Although online identity theft topped the list of concerns (65 percent), check fraud (45 percent) and credit card fraud (52 percent) were the most frequently experienced types of fraud.
- With fraud striking small businesses an average of six times, it is apparent that fraud is a detriment to the livelihood of a small business—resulting in tens of thousands of dollars in losses.
- Of the 82 percent of small business owners stating they wanted banks to offer more help in fighting against fraud, 46 percent were either unsure or reported that their bank does not offer online fraud detection services.
For more information, please visit www.suntrust.com/foilfraud.
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