The first unpleasant surprise comes when you realize that cybercriminals have hacked into your business’s bank account and stolen thousands of dollars.  Then an even bigger bomb drops: Your bank has no legal obligation to reimburse you for the attack.
Hackers that stage corporate account takeovers especially target small businesses because they often lack firewalls and monitoring systems, according to The New York Times.  Losses can then be particularly devastating, because many small businesses owners don’t realize that protections on their personal bank accounts don’t apply to their business accounts.

Businesses owners need to purchase fraud insurance that covers cybercrime and fraudulent bank transfers if they want their bank to pay up after an attack, according to The Times.
“I’ve talked to brokers who tell me only one in 10 business customers ask for it, and it’s cents on the dollar,” Ann Talbot, chief financial officer of engineering and construction company Golden State Bridge, told the paper.  Hackers robbed Golden State of more than $125,000 in 2010, reports The Times; Talbot says she believes they used a social networking site to infect a company computer with malicious software.  Fortunately, Golden State had purchased fraud insurance after being hacked in 2006.