Are Retailers Shopping for a Cybersecurity Breach?
Retailers are back in the spotlight on the cyber stage. No longer are attackers focused only on credit data, they also have their sights set on sensitive personal data on retailers' systems and forcing quick payouts via ransomware that doesn't require data exfiltration. The 2022 Thales Data Threat Report: Retail Edition shows almost half of respondents report an increase in cyberattack volume, severity and scope. Read this blog for an overview of top report findings.
What are the main cybersecurity threats facing retailers today?
Retailers are encountering a range of cybersecurity threats that extend beyond just credit card data. Attackers are increasingly targeting sensitive personal data within retailer systems and employing tactics such as ransomware for quick payouts. According to the 2022 Thales Data Threat Report: Retail Edition, 45% of retail respondents noted an increase in the volume, severity, or scope of cyberattacks over the past year.
How can retailers improve their cybersecurity measures?
Retailers can improve their cybersecurity by implementing several key strategies: assessing risk to understand where their data is stored, automating data security governance to enforce policies across systems, adopting Zero Trust principles for access management, implementing multi-factor authentication (MFA) for added security, and providing cybersecurity training to employees to mitigate human error, which is cited as a leading threat by 36% of retail respondents.
What is the current state of multi-factor authentication in retail?
While 59% of retail organizations are using multi-factor authentication (MFA), only 33% prioritize it as an effective method for preventing cyberattacks. Furthermore, only 8% of respondents utilize modern authentication for on-premises applications, and just 20% deploy it for cloud-based applications. This indicates a significant opportunity for retailers to enhance their security posture by prioritizing MFA implementation.
Are Retailers Shopping for a Cybersecurity Breach?
published by Assure Media Group
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