Bank of America Expands Fraud Education for Small Businesses Amid Rising Cybercrime Losses
In response to rising U.S. cybercrime losses, Bank of America has launched an expanded fraud-awareness initiative aimed at helping small business owners recognize and respond to increasingly sophisticated threats. The program includes a revised Fraud Prevention Checklist, educational content on common scams, and new webinars focused on social engineering tactics like Business Email Compromise (BEC). In 2025 alone, reported U.S. internet crime losses reached $20.8 billion—a 26% increase from the previous year—with phishing and spoofing being among the most frequently reported crimes. The initiative is part of Bank of America's broader effort to support business resilience through education and digital tools such as a Security Meter, which helps clients assess account security. The bank also offers CashPro webinars on fraud prevention best practices for its customers. According to internal data from 2025, 30% of small business owners plan to increase cybersecurity investments over the next five years.
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Topics: cybersecurity fraud_prevention small_business_support