50% of US Retailers Certain They Are Targeted by Hackers: Survey

A survey carried out by 451 Research shows that half of US retailers admitted to have been victims of data breach. A vast majority of the businesses think that they are at risk of hacking threats, according to the 2017 Thales Data Threat Report.

Based on the survey, 88 percent of the retailers claimed that they are vulnerable to hacking threats. The survey also showed that 95 percent of the retailers planned to use sensitive data in 2017.

More than 50 % of the respondents said that they think sensitive data is being utilized without the implementation of appropriate security.

Various Blockchain-based projects including that of IBM could potentially combat cybersecurity threats, including data breaches as well as initiatives to help prevent fraudulent activities.

Breach numbers

The data showed that only 19 percent of American retailers suffered an attack in 2016, down from 22 percent in 2015. The global rate of attack in 2016 stood at 43 percent.

One of the reasons behind the decline in the number of American retailers who experienced a breach could be their increased investments in information technology.

“These distressing breach rates serve as stark proof that data on any system can be attacked and compromised. Unfortunately, organizations keep spending on the same security solutions that worked for them in the past, but aren’t necessarily the most effective at stopping modern breaches.”

Many retailers have turned their back on a relatively new and secure cybersecurity option - Blockchain. 65 percent of banks in the US failed the online security test by Online Trust Alliance.