New Educational Tools, Fraud-Prevention Resources and Webinars Aim to Help Entrepreneurs Protect Their Businesses From Increasingly Sophisticated Scams
Key points
Bank of America is launching a fraud-awareness initiative for business owners, with an updated Fraud Prevention Checklist, educational content and a new webinar.
The initiative is designed to help small businesses recognize and respond to increasingly sophisticated threats as reported U.S. internet crime losses reached $20.8 billion in 2025.
Tools and education are available to the public through Bank of America’s Center for Business Empowerment’s Security Center. Additional resources are available for clients, including CashPro webinars and a Security Meter, to help clients assess and improve account security.
CHARLOTTE, N.C., Oct. 6, 2026 /PRNewswire/ — As cybercrime and fraud continue to impose financial costs on businesses and consumers, Bank of America today announced an expanded fraud-awareness initiative designed to help small business owners better recognize threats, strengthen safeguards and respond more effectively when fraud occurs.
“Fraudsters continue to evolve their tactics, making awareness and education more important than ever for business owners,” said Sharon Miller, president of Business Banking. “Many scams succeed not because a business lacks technology, but because criminals exploit trust, urgency and human behavior. We want to help entrepreneurs better recognize red flags, strengthen their defenses and understand the steps they can take to protect their businesses.”
According to the FBI’s Internet Crime Complaint Center, Americans filed more than one million internet crime complaints in 2025, resulting in more than $20.8 billion in reported losses. Losses increased 26% year over year, while phishing and spoofing remained the most frequently reported cybercrime. Business Email Compromise schemes accounted for more than $3 billion in reported losses. According to the 2025 BofA Business Owner Report, 30% of business owners plan to increase cybersecurity measures as part of their digital investments over the next five years.
Starting this month, which is Cybersecurity Awareness Month, Bank of America will highlight a range of educational tools and resources designed to help small business owners to better protect themselves against fraud and scams. Resources available through the Center for Business Empowerment’s Security Center include:
An updated Fraud Prevention Checklist to help business owners assess vulnerabilities and strengthen internal controls.
New and existing educational content highlighting common warning signs of fraud, scams and social engineering schemes.
A new Social Engineering and Business Email Compromise webinar (coming later this Fall) designed to help business owners and employees identify fraud tactics and avoid becoming victims.
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