74% of businesses

experienced attempted or actual payments fraud in 2020.

Source: Association for Financial Professionals 2020 survey

Cybersecurity for Your Business

As the business world becomes increasingly digital, the importance of educating your employees about the ever-evolving threat of cybercrime will only grow. We’re here to help. Schedule a review of your cybersecurity plans with a Treasury Manager today.

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Where is all this fraudulent activity coming from?

Common Sources of Payment Fraud

62%

of businesses have been targets of business email compromise.

52%

of businesses have been targets of outside individuals (using forged checks, stolen card info, etc.)

19%

of businesses have been targets of threats via vendors, trading partners, or professional services providers. 

12%

of businesses have been targets of account takeovers (ransomware, hacking, malware, etc.)

Source: Association for Financial Professionals 2020 Survey

Think it can’t happen to you? The numbers suggest otherwise. 

Aided by automation, cybercrime is surprisingly successful.

Success Rates of Common Tactics

20.5%

Account/System Takeovers

19%

Ransomware

18%

Business Email Compromise

Source: Strategic Treasurer Treasury Fraud & Controls Survey Report 2020

Conclusion: Employee Training Pays Off

Organizations that train their employees to recognize cybercrime are far less likely to fall victim than ones that don't. Here's what that looks like: 

ACH Fraud 2X less likely
System Takeover 2.5X less likely
Business Email Compromise 4X less likely
Ransomware 5X less likely
Source: Strategic Treasurer Treasury Fraud & Controls Survey Report 2020

How We Can Help

While cybercrime might seem overwhelming if you're not a tech expert, it doesn't have to be. Simply put, knowledge is power. Below is a series of educational resources to demystify cybercrime and offer solutions in terms you can understand. 


Infographic: It's Not a Matter of if but When

Almost 75% of companies were targets of cybercrime in 2020. We break down cybercrime's sources, success rates, and the value of employee education.

Download

Infographic: Five Red Flags of Wire Fraud

Learn the telltale signs of digital wire fraud such as rush requests, strange email addresses, and more.

Download

Risk Mitigation Products and Services

Click here to learn more about products and services to keep your company safe.

Contact

Get in touch here if you'd like us to contact you about what Hancock Whitney can do to help your business be prepared to prevent cybercrime.