The retail sector has experienced several challenges since the COVID-19 pandemic began, with store closures, COVID tracking, social distancing, facial coverings, and regular cleaning to be able to remain operational.
Because of this, many retail organisations, from independent retailers to large multinationals have embraced technology, accelerating their online presence whilst expanding their e-commerce solutions and logistic networks.
The retail network often includes large quantities of consumer personal data, including shopping history, addresses, proof of ID, card payment details and more. This data is highly valuable for Cyber Criminals, who use a variety of social engineering and unsophisticated attack methods such as phishing emails to trick unsuspecting staff members and provide the attacker access to the data.
Aside from the risk of data theft, retailers in 2021 have also faced a barrage of ransomware attacks, causing stores to close with breached systems becoming inoperable. In many cases, this has extended to CCTV security, telephones, and POS systems, affecting security, communication, and leaving a retailer’s unable to process payments.
In addition, reputational damage can be severe, as customers vent across social media and negative PR stories circulate.
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