Cyber(attack) Monday: Hackers Target the Retail Industry as E-Commerce Thrives
The retail industry is experiencing more breaches than any other industry in 2019 as criminals consistently deploy new advanced hacking methods to target the vast assets and data retailers control. As digital commerce becomes increasingly popular around the world, retailers have invested heavily in state-of-the-art platforms to fuel their e-commerce engines, while neglecting to invest in adequate security protocols.
This report addresses the top challenges and threats to the retail industry in 2019, such as:
- Organized Retail Crime (ORC), including fraud operations, card-not-present (CNP) transactions, and a growing dark web community.
- Point-of-sale (POS) malware, web application compromise, ransomware, and other common attack methods plaguing the industry.
- Inventory shrinkage and store-based theft, as loss prevention employees hope to start coordinating with cybersecurity teams to prevent theft, fraud, and physical attacks.
- The costs of compliance and the challenges retailers face when slapped with additional regulations and crippling fines.