FTC website helps SMBs avoid scams, cyber attacks

The Federal Trade Commission reported today that it launched ftc.gov/SmallBusiness, a new website containing articles, videos and other information compiled to help small business owners avoid scams and protect their computers and networks from cyberattacks and other threats. This looks like good news for ISOs, merchant level salespeople (MLSs) and the merchants they serve.

"Small businesses are critical to our economic strength, building America's future, and helping the United States compete in today's global marketplace," said FTC Acting Chairman Maureen Ohlhausen, who spearheaded development of the new resource. "This innovative new website is a one-stop shop where small businesses can find information to protect themselves from scammers and hackers, as well as resources they can use if they are hit with a cyberattack."

FTC, SBA collaborating

The FTC cited U.S. Small Business Administration findings that there are more than 28 million small businesses nationwide, employing nearly 57 million people. The SBA's standard definition of a small business is enterprises with up to $7 million in revenue or 500 employees, depending on the industry. So this initiative can assist both mom-and-pop business operations, as well as midsize companies, which together comprise the SMB sector ‒ the sweet spot for many MLSs.

Scammers frequently target SMBs with deceptive tactics designed to get them to pay for supplies they didn't order, donate to fake charities, or trick them into giving access to their network or downloading malware that can corrupt their business's computers, the FTC stated, adding that cyberattacks can be particularly devastating to small businesses, and many of them lack the resources that larger companies have to devote to cybersecurity, the FTC stated.

Among other features, the new web page includes a new Small Business Computer Security Basics guide, which shares computer security basics on how to protect files and devices, train employees to think twice before sharing business account information, and keep wireless networks protected, as well respond to a data breach. Information on other cyber threats, such as ransomware and phishing schemes targeting small businesses, is also provided.

The FTC stated it is continuing to work with the SBA on ways to help small businesses.

Editorial Note:

Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.

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