With the start of the digital revolution, more and more businesses, be it small or big, are transforming their business practices to enter the digital marketspace. The B2C retail space is a multibillion-dollar industry. There are some obvious attractions to why one would evolve their business to enter the digital marketplace whether it is the ease and cost of what it takes to set up a retail portal or the market reach a business could experience.
But with so many obvious attractions there tends to be a set of challenges and particularly cyber challenges. With hacktivists and cyber criminals attracted to stealing credit card information and other customer PII data, the proliferation of these channels is attracting unwanted attention from fraudsters looking to capitalize on new vulnerabilities.
Retail sector presents a wealth of data and the general lack of importance towards cyber security which paints a particularly easy target for hacktivists and cyber criminals. There is also an added danger of third party integrations which are used by businesses to enhance customer experience. Keeping these in mind let’s take a look at some of the threats the sector faces:
Macys reported that customers shopping in macys.com and bloomingdales.com from 26 april 2018 to 12 june 2018 had their PII data and credit card details exposed by third parties.
Adidas announced in June that an "unauthorized party" said it had gained access to customer data on Adidas' US website.
Under armour confirmed that their app was accessed by a “unauthorized party” and they believe user emails and encrypted passwords of 150million users were stolen.
It’s time for companies to pay extra attention to security not just as a defensive measure but also to gain a genuine business advantage over competitors. For this journey you would require a trusted security partner to provide curated security solutions.
Establishing proper security policies, educating employees, setting up response plans to drive down risk.
There is a need to perform end to end security to weed out threats that could lead to breaches, disruption of services, defacement and with the many third-party integrations more threats arise.
There are many compliance regulations to ensure security in the ecommerce industry like PCI DSS, ISO 27001:2013, GDPR etc. We can ensure that you meet the necessary standards to reach “in compliance”.
It is important to ensure that your infrastructure security is up to date to withstand any attack, be it a DoS or data breach. Here we simulate threat actors and enact real world scenarios to prepare your security posture.
Our deliverables are comprehensive in nature that addresses both technical and business audiences.
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