Member Article

Top five security threats facing retailers

With concerns around data and security affecting 87% of in-store shoppers, addressing these issues must be a critical consideration for retailers.

Vodat’s latest report, ‘Network security threats and how to fight them’, highlights potential vulnerabilities of in-store networks, which retailers rely on every day for business-critical operations, from purchase transactions to managing customers’ personal data.

The top five key security threats faced by retailers include:

1. Vulnerable Wi-Fi networks - without sufficient Wi-Fi security, hackers can access networks, disrupt transactions and prevent businesses from trading.

2. Weak POS Security - cyber criminals can contaminate EPOS systems with malware, affecting retailers operating from multiple locations.

3. Poor network configuration - entry points around a network’s perimeter where sensitive data is exchanged can be highly vulnerable if poorly configured.

4. Inadequate staff education – employees can be the weakest point of a network, so retailers must ensure adequate staff training.

5. GDPR non-compliance – recent EU General Data Protection Regulation (GDPR) means businesses must understand how and where data is stored and how secure it is.

Hackers can access retailers’ network, disrupt transactions and even prevent stores from trading altogether.

With the British Retail Consortium estimating the annual cost of retail cybercrime at £100m, there is a great deal at stake. Our report highlights not only the top security threats, but also the importance of having robust and secure solutions and processes to fight them and protect their businesses.

This was posted in Bdaily's Members' News section by Paul Leybourne .