On an average a Retailer face at least eight to ten cyber-attacks per year. Point of Sale systems available in huge numbers at different locations are a main attraction of malware attacks that can be hacked either remotely or directly in a store.
Retailers around the world have faced some of the most prominent data breaches putting their brand reputation and customer trust at serious risk. Damage caused by these data breaches can be wide-spread that greatly impact a retailer’s business, its partners, and most importantly, its customers.
Retailers operating in a specific city, region or globally face three specific challenges that result into cybersecurity threats –
POS systems, that they rely upon to do their day to day business Their computers systems, like any other industry Retail Employees running the store that are not cybersecurity trained
Remotely or in-person executed malware attacks on POS systems can already be noted as a big win for cyber attackers who are out to steal credit card data.
Third-party transactions are also among major challenges faced by retailers depending upon their size and mode of operations. It’s often easier to target smaller businesses that retailers do business with and to use their network access to break into the retailers’ networks. This happens because of obvious reasons of not doing cyber assessments or Third Party Risk Management (TPRM) of various components of your already huge supply chain.