CYBERSECURITY FOR RETAIL

30% Rise In Cybersecurity Attacks On Retailers

Based on recent research, we have found that cyber-attacks in the retail sector have increased by over 30 percent, indicating the ever-growing challenge faced by the industry.

Cybercrime Against Retailers

Targeting the customer data – The primary challenge retailers face comes from cybercriminals. Whether the offenders are malicious employees or organised crime groups, the central threat is around the theft of customer data which retailers hold in significant volumes.

Digital security breaches – Retailers also face added security risks and challenges from their digital platforms such as websites, apps, and payment devices like credit card terminals.

DDoS attacks – DDoS or Distributed Denial of Service attacks are a real security challenge for retailers. The hackers place the retailer at their mercy by targeting the organisation during peak trading. They look for weaknesses in the retailer’s infrastructure, such as websites, as well as physical disruption through lift systems.

How Will GDPR Affect The Security Practices Of Retailers?

In May 2018, GDPR or the Global Data Protection Regulation rules arrived Europe. This means that retailers, and indeed all industries, holding EU data now face:

Addressing The Challenge Of Cybersecurity In Retail

PCI Compliance – If your organisation is accepting, processing, storing or transmitting credit card information, it must be conducted in a secure environment. The Payment Card Industry Data Security Standard (PCI DSS) is in place to ensure that organisations are compliant. LRQA Nettitude is a PCI Council ASV, and QSA approved company. Contract the consultancy today to gain PCI compliance.

Security Technology – Ensure your organisation has the right processes and technology in place to mitigate an attack.

Threat Intelligence – Conduct active threat intelligence audits to predict when an attack is likely to happen.

Incident Response Planning – Make sure the company is ready to respond and know what their position is in the eventuality of an attack. LRQA Nettitude also assists organisations with responding to a breach as it happens.

Board-level Responsibility – It is vital that the organisation’s executive board play an active and supportive role in the company’s cybersecurity.

Security Awareness – Employees are critical in reducing the security risk within the organisation. Invest in a security awareness program with practical training for all staff.

Detection Response – Organisations are now investing in detecting a breach through state of the art dedicated security operations centers like LRQA Nettitude’s.

Cybersecurity Strategy – Cyber experts like LRQA Nettitude can help retail organisations both understand the cybersecurity risk they face and define their security strategy.