How The Retail Industry Can Combat Threats and Raise Cybersecurity Resilience
Retail companies, which typically collect and store large amounts of sensitive customer information, including credit card numbers, personal addresses, and other financial data, are particularly juicy targets for cyber criminals. Phishing, ransomware, and misconfigurations are common attacks we see against retail establishments.
In this analysis, I’m going to break down common threats, how to defend against each of them, and then provide insights into ways that retailers can improve cybersecurity resilience overall.
How to Defend Against 3 Common Retail Vulnerabilities
Due to their customer service orientation and the need for multiple connections to suppliers, many retailers struggle to implement effective cybersecurity measures and also often lack the resources or expertise to adequately protect their networks and data. The retail industry continues to be a prime target for cybercriminals looking to steal sensitive information and financial data. Let’s take a look at some of the common vulnerabilities seen in the retail industry and some ways to mitigate them.
Phishing
Phishing is an attack that involves the use of emails to trick individuals into clicking on a malicious link or providing information such as passwords or credit card numbers. Phishing comes in many forms, such as spoofed emails from a bank, or fake social media or online shopping websites. Phishing attacks are difficult to detect, as they often use sophisticated tactics to trick individuals into giving away their sensitive information. Retail companies often put an emphasis on customer service and communication with customers, which makes them particularly vulnerable to this type of attack.
Some of the steps retail companies can take to protect themselves from phishing attacks include educating employees about the risks of phishing, as well as use anti-phishing software and other security measures, such as multi-factor authentication, to protect sensitive data.
Ransomware
Ransomware is a growi