Retail cybersecurity is a critical concern for every business in the retail industry, which is why cybersecurity and retail should always go together. Retailers are prime targets for cyberattacks due to the valuable customer data they collect, which usually includes personally identifiable information (PII) and credit card numbers. Retailers can handle large volumes of customer data, which becomes an attractive target for cybercriminals seeking to profit from selling it on the dark web.
Recent statistics from various sources suggest that more than 24% of cyberattacks specifically target retailers, making it one of the most heavily targeted industries. Roughly one third of retailers cite cybersecurity concerns as their primary obstacle in transitioning to e-commerce, with cost and technology barriers coming close behind.
For the bad guys, however, it is all about the money. Almost all retail cyberattacks are driven by financial motives. When consumer data is compromised, most of the information exposed consists of payment information and personally identifiable data which can fetch a good price on the dark web.
Retail cybersecurity threats occur because the environment tends to have a lot of elements. The hybrid nature of many retail businesses introduces additional risk, where brick-and-mortar stores are combined with e-commerce platforms and services.
NFC (Near Field Communications) vulnerabilities exist in some payment systems, and many Point of Sale (POS) systems still do not use point-to-point encryption for their communications. Even if communication streams are encrypted, it makes little difference if the software has known vulnerabilities or if insecure plugins or add-ons are being used.
Cloud-based storage and mobile apps increase the presence of stored data online, which increasingly leads to new threat vectors like cloud-based botnets and more.
The key is for businesses to prioritize security and invest in platforms and solutions that will help protect customer and business data. Critical in this effort is the implementation of IT best practices in regularly updating operating system and application software, limiting the access users have for installing or modifying software on their devices, and always monitoring the systems for vulnerabilities.
Like cybersecurity and retailers, Noobeh and secure IT go together. We help retail and other businesses proactively address cybersecurity challenges so they can protect both their business and their customers. Noobeh cloud services helps retailers secure their business servers and systems, delivering scalable, high availability and highly agile solutions that keep business and finance operations running.
Noobeh provides services for Microsoft 365 and Microsoft Azure platform and deploys solutions for manufacturing, inventory management, multi-channel commerce, EDI, financial and more. Get together with Noobeh and find out how we can help your business operate more securely and with better, more agile and resilient IT.
Make Sense?
J
Cooper Mann Company 