Public Private Strategies Institute (PPSI)

Among small businesses already targeted, 76% say AI was used in the attack.

72% of small businesses experienced fraud, scams, or ransomware last year.

43% of affected small businesses say fraud makes it harder to accept payments.

71% of small business owners expect AI to make fraud more prevalent.

Small businesses incured at least $131 billion in losses from fraud, scams, and ransomware last year.

Average losses for small businesses ranged from nearly $60,000 for payment fraud to more than $90,000 for email compromise.

50% of small business owners say financial institutions are "very responsible" for preventing and protecting against fraud.

39% of affected small businesses say fraud makes it more difficult to innovate or develop new products.

51% of small business owners say business owners themselves are "very responsible" for preventing and protecting against fraud.

40% of affected small businesses say fraud hurts customer acquisition.

51% of small business owners say payment platforms are "very responsible" for preventing and protecting against fraud.