Cyber-security risks and the increasing awareness, occurrence, and impact of cyber incidents confronting corporations are a rapidly growing concern to investors, senior executives, and policy setters. Driving this concern are unprecedented corporate dependencies on digital technologies which are growing at an exponential rate. Indeed, the impact of digital technologies on today's corporations are beyond what would have imagined at the turn of the 21st century, let alone two or three decades ago. Unfortunately, determining the actual, let alone potential, cyber security risks an impact of cyber incidents confronting corporations is far from an exact science.

Listen to this podcast as Accenture's Dr. Alastair MacWillson explains how cyber crime is hard to predict, but as the prevalence of online and digital channels grows, so do the risks to cyber security. Banks must mitigate and counter cyber crime.

Ben Knieff, who oversees fraud prevention strategy for NICE Actimize, says most small businesses don't understand online fraud risks, but they are willing to work with banks to mitigate losses. That's just one of the takeaways, Knieff says, from a recent survey of small businesses commissioned by NICE Actimize. According to the survey, which included responses from 315 small to medium-sized U.S. commercial customers, shows that beyond the prevention of ACH fraud, merely taking steps to reduce fraud improves the overall relationship between financial institutions and their commercial customers.