The scale of cyberattacks is hugely influenced by a company’s digital exposure. With the Covid-19 pandemic shaping our shopping habits and, as a result, e-commerce sales rising by 5.1% by 2021, the retail sector is continuing to experience higher levels of security incidents. The following list compiles the cybersecurity challenges retailers will have to face in the coming year:
Cybersecurity Challenge #1: Ransomware
What ransomware is: Ransomware is a type of malware that limits or prevents a user from accessing their computer system until a ransom fee is paid. To make individuals pay the ransom, threat actors can pressure the organisation by threatening to reveal sensitive information.
How to protect your firm: A fine-tuned business antivirus solution offers real-time protection against ransomware. One of the most trusted solutions on the market is Avast, an all-in-one application combining antivirus, VPN, speed-up and security tools to maximise security and protect business assets.
Cybersecurity Challenge #2: Credential phishing
What credential phishing is: Credential-based attacks occur when a hacker steals credentials to gain access to computer networks and steal critical business data. This often happens by posing as a known or trusted entity in an email, text message or via other communication channels.
How to protect your firm: Keeping security software, operating systems, and internet browsers up to date can help decrease the risk of potentially exposing business information. A consultation with a Managed Service Provider can also help identify additional security measures such as multi-factor authentication or a disaster recovery plan.
Cybersecurity Challenge #3: Distributed denial-of-service (DDoS) attacks
What a DDoS attack is: A distributed denial-of-service attack is a cybercrime during which the perpetrator floods the targeted server with internet traffic from multiple locations to make online services or websites unavailable. Attackers often target various resources from banks to news sites and retailers to prevent them from publishing and accessing vital information.
How to protect your firm: Implementing high levels of network security is essential for stopping any DDoS attempt to protect a business. A managed firewall solution from some of the world’s trusted vendors like Cisco, Draytek, Palo Alto or SonicWall can act as a traffic-scanning barrier between networks. They offer rigorous protection for businesses, including remote devices and secure data against threats with real-time monitoring and troubleshooting.
Read all the cybersecurity challenges a retailer must overcome here.