RETAIL & ECOMMERCE SECURITY
Cyber security trends in the retail industry show wider issues than just PoS and web application attacks. Whether it’s holiday season, day to day shopping or business spends, our life is incomplete without retail and eCommerce industry.
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Cyber security in retail and eCommerce
Businesses are adopting newer ways to keep up with customers trends. This is directly linked to speed with which development can be done. However, brand reputation is a key factor in the online retail and eCommerce space. Customer privacy is rising to the top like never before, thanks to new regulations and customer awareness.
As we all know, data breaches significantly impact brand reputation, and it may lead to legal implications based on the incident and regulations. Ultimately, it leads to a decrease in consumer confidence.
As growth takes place, board and senior management must make cyber risk a priority. The importance of cyber security can never be under-estimated, especially in post COVID world. Blind spots in your corporate infrastructure, production website or other critical assets pose a serious risk to the organisation.
What are the key security challenges ?
The biggest cyber security threats in retail and ecommerce sectors
Since last two years, retail and eCommerce businesses have seen an increase in cyber attacks at alarming rate. Major cyber threats for retail businesses include:
- Web application attacks against retail websites, especially targeted at payment areas. Magecart attacks (cyber criminals), customer reward program hacks are some of the examples.
- POS or ‘point-of-sale’ attacks since POS contain the most sensitive data i.e. payment information.
- Insider threats are a constant threat to retailers. An insider could be an employee, vendor or contractor who commits a malicious or ignorant act using their trusted relationship with the host organisation.
- Bad bots, automated programs designed to run specific tasks, are causing more harm. Around 1/5th of all eCommerce traffic composes of bots that could be used for account acquisitions (based on credentials bought on dark web), credit card frauds and such.
- Ransomware is one such attack that’s more prominent and attackers are looking at advanced ways to target consumer applications, devices.
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Retail & eCommerce Sector Experience
Our experience in the industry comes from the varied consultancy and security assessment based projects conducted for Supermarkets, High Street banks, e-Commerce and online retail customers.
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