The Duo Blog
With growing concerns around security, ransomware and retail breaches, there are a few key considerations that retailers should keep in mind when it comes to protecting their organizations.
First, a Quick Overview on Retail and Cybersecurity
Retail has two main types of workers — people with boots on the ground in a store who have to connect to a device that may be managed, unmanaged or shared, and people who work for the corporate or online side of the business. Post-pandemic guidelines mandated that many traditional roles become remote access roles. Dollars earmarked for innovating sales, like for online shopping, now had to compete with securing the remote workforce. Retail’s great “digital transformation” sped up, as did the number of data breaches impacting retail.
The costs that follow a data breach are trending upward year over year. Data breach costs rose from $3.86 million to $4.24 million, according to IBM and the Ponemon Institute’s Cost of Data Breach Report 2021.
- 50% of retailers experienced a data breach
- 42% of retailers who were breached experienced brand degradation
- 40% of retailers experienced an outage that had an impact on revenue
- 30% of retailers lost critical business data that impacted the business long after the breach
Security Magazine reports that stolen and exposed credentials have risen 300% since 2018. The 2021 Verizon Data Breach Investigations Report observes passwords caused 89% of web application breaches, either through stolen credentials or brute force attacks, making the protection of credentials a high priority.
1. Stay PCI DSS
[…]
Content was cut in order to protect the source.Please visit the source for the rest of the article.
Read the original article:
Read the original article: