According to a study conducted by Ponemon Institute and sponsored by Gaurdian Analytics, the SMBs in USA are very much concerned about the security of their transaction through online banking.
The following are the findings of the study:
55% of the businesses exerienced fraud, with 58% of them having reported fraud in online banking, in the past 12 months. It was found that 80% of the banks were unable to detect the fraud on time, i.e before the funds were moved out. 87% of the banks were unable to recover the total lost assets. 57% of the respondents said that the bank did not fully compensate the amount in the fraud attack. 26% aid that the banks did not care to reimburse any amount of the attack. 40 percent of the businesses have moved their baking activities because of a fraud attack. 26% of them have terminated their banking relationships, 11% have changed their important cash mangement services to better institutions following a fraud attack. 24% of businesses were of opinion that their banks do not have policies regarding securing the accounts from fraud attack and 39% din’t even know that such a policy exists.