As Artificial intelligence advances, and one of its most concerning applications is deepfake technology. According to Cyber Defense Magazine, the number of deepfake videos online has surged at an alarming annual rate of 900%. Originally a novelty for entertainment, deepfake voices are now being weaponized for fraud. Criminals are using AI to replicate voices with stunning accuracy, allowing them to impersonate real people and deceive unsuspecting victims.
TAGS:
Deepfake,
Cyber Security,
cybercriminals,
Small Business,
Fraud,
artificial intelligence,
cyber attacks,
Scams,
AI,
Cyber Defense,
Deepfake Scams,
Cyber Monday, celebrated annually the Monday after Thanksgiving, has become a cornerstone of global online shopping. According to Captial One in 2024, it is projected to generate a staggering $13.2 billion in sales, reflecting a 6.1% increase from the $12.4 billion spent in 2023. This growth continues a trend of steady gains over the past decade, with the day now accounting for a significant share of holiday shopping sales.
Scammers defrauded thousands of holiday shoppers through online scams, non-delivery schemes, and fake listings, resulting in substantial financial losses. The FBI reported almost 12,000 victims resulting in losses of over $73 million last holiday season due to scams, with thousands of victims falling prey to phishing emails, fake online stores, and fraudulent social media ads designed to deceive consumers into disclosing personal and financial information.
TAGS:
Phishing,
Technology,
Scams,
Technology,
Cyber Security,
Protection,
Fraud,
Financial Empowerment,
finance,
holiday shopping,
A U.S. Chamber of Commerce study found that 85% of small businesses reported that technology platforms were essential in getting their business up and running. Additionally, 94% indicated that technology helps them operate more efficiently. Small businesses should consider focusing on building a robust and cost-effective tech stack to remain agile, connect with customers, and streamline operations. With the right tools, these businesses can possibly enhance productivity and compete more effectively with larger companies.
TAGS:
Technology,
Tech Stack,
Tools,
Small Business,
Cyber Security,
finance,
E-commerce,
marketing,
artificial intelligence,
Customer Relationship Management,
Data Protection,
Business Growth,
Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced $3 million in new funding under the Cybersecurity for Small Businesses Pilot Program. Three grants will be awarded to state agencies to provide training, counseling, and other tailored cybersecurity services for startups and emerging entrepreneurs. “With small businesses accounting for 99.9 percent of all American businesses and employing nearly half of the private workforce, any cyber threat to our small businesses is a threat to our country’s overall economy,” said SBA Administrator Guzman.
Applications will be accepted from July 2-Aug. 2, and applicants can apply for awards ranging from $1,000,000 to $1,045,000 for a performance period of 24 months ending September 2026.
TAGS:
U.S. Small Business Administration,
SBA,
SBA Loans,
Cyber Security,
grants,
cyber attacks,
entrepreneurs,
small business,
IT solutions,
preferred lender program,
SBA Express Lender
Recently reported on the news the healthcare industry is dealing with cyberattacks, as illustrated by Vanessa Ho’s article, "Inside the Fight Against Hackers Who Disrupted Hospitals and Jeopardized Lives." The article sheds light on the vulnerabilities that hospitals and healthcare facilities face, with hackers targeting critical systems, jeopardizing patient safety, and compromising medical data. This underscores the urgency for healthcare institutions to start learning and strategizing on how to adopt artificial intelligence and advanced technological solutions to enhance their cybersecurity measures.
Small businesses, often known for their agility and innovation, are now at a critical juncture in a rapidly evolving marketplace. In this age of technological transformation, small businesses are presented with both unprecedented opportunities and challenges. Leveraging technology is no longer an option but a necessity to remain competitive and sustain growth.
Integro Bank announced that with cyber-attack risks representing the #1 threat to small businesses, it is now offering increased cyber risk protection to its clients.