Charter Capital says AI-driven theft is hitting small businesses

Charter Capital says AI-powered cyber theft is driving faster, harder-to-detect attacks on small and mid-sized businesses nationwide. The Houston invoice funding firm is urging companies to strengthen security, train employees and plan for incidents as criminals use tools like deepfakes and prompt injections.

Why it matters: - AI is making cybercrime faster, less visible and more damaging for small and mid-sized businesses. - Charter Capital says businesses can face losses of money, financial data, credentials and other digital assets without obvious warning signs. - The company says cash-strapped businesses may struggle to pay for stronger security, training and response planning even as risks rise.

What happened: - Charter Capital, a Houston-based invoice funding company, said AI-powered theft is surging and causing major losses for businesses across the U.S. - The company pointed readers to its guide, "How to Protect Your Business Against AI-Powered Online Theft," available at CharCap.com. - Gregory Brown, co-founder and executive manager at Charter Capital, said cybercriminals are using deepfakes and prompt injections to catch businesses off guard. - Brown said hackers can gain access without anyone clicking a link or opening a malicious file.

The details: - AI-enabled adversaries have driven cyberattacks up 89% year over year, based on the figures cited by Charter Capital. - 73% of security professionals report that AI-powered threats are having a significant impact on their organization. - Average breakout time has fallen to 29 minutes, a 65% increase in speed year over year. - 82% of threats are malware-free, up from 51% in 2020. - Charter Capital said traditional antivirus tools often miss emerging threats. - The company said baseline defenses should include firewalls, antivirus software and reliable data backups. - Charter Capital said businesses often benefit from additional detection tools that flag unusual behavior and patterns. - The company said employees need training to spot trusted-looking phone or video scams powered by new technology. - Charter Capital recommended layered controls such as user access limits, multi-factor authentication and multi-step verification for financial requests. - The company said businesses should have a written incident response plan to speed recovery and limit damage. - Cybersecurity insurance and cyber theft insurance may also help with recovery, the company said.

Between the lines: - The message is that AI is lowering the cost and complexity of attacks for criminals while raising the burden on smaller companies that often lack deep security budgets. - Charter Capital is also linking cyber protection to working capital, arguing that faster access to cash can help businesses pay for safeguards. - Brown said invoice factoring can provide immediate payment on B2B invoices and make security investments easier.

What's next: - Charter Capital is directing businesses to its website and a complimentary factoring quote at 1-877-960-1818. - The company says more information is available at CharCap.com. - Charter Capital, founded more than 20 years ago, says it will continue offering flexible funding solutions for B2B companies from its Houston headquarters.