As cyber threats become more frequent and severe, how can retail businesses protect themselves and their customers? According to Gartner, retail tech spending will grow 3.6% globally in 2019.
Even though retail has been slow in adopting digital technologies, there is set to be an increase in technology investment to better respond to changing customer habits. Digital transformation is good news for shoppers, but only if executed in condition with appropriate cybersecurity posture in the retail world.
The cyber underworld paints a rather grim picture of retail, or any other industry for that matter. According to Alert Logic’s recent cybersecurity report, no matter the size of your business or the industry you work in, cyber criminals who want to access your network will take advantage of any vulnerable attack surface. A single unprotected or improperly secured device can be all they need to access an entire system. With the risk of a cyber attack increasing, it is vital that organisations are protected and prepared for any kind of attack.
What are the dangers without proper cybersecurity?
Financial loss and reputation damage are the key business risks faced by retail organisations who do not focus on appropriate cybersecurity controls and monitoring. Without proper controls organisations are at risk of having significant fines levied against them by the ICO if their customer’s data is put at risk and the organisation cannot demonstrate a robust and mature approach, that they did their best and have worked to improve. For businesses hosting their own systems and applications risks are compounded as malicious actors are regularly compromising remote systems to mine cryptocurrency and steal data.
In order to secure workloads and stay ahead of the numerous known and emerging cyber threats, organisations need a team of cybersecurity experts – data scientists, security operations centre (SOC) analysts, security researchers, security content developers and threat intelligence analysts – who can investigate security incidents and research cyber threats then monitor, validate and escalate incident reports on organisations’ environments so these can stay focused on their core business until it’s time to act.
If you would like to learn more about our simplified, integrated cybersecurity solutions please get in touch, request a meeting or come and say hello at the Enterprise Cloud Computing event on 8th May.
Published by Alert logic