Retail Industry Cyberattacks

Retail Industry Cyberattacks

The retail industry faces a myriad of cyber threats due to its reliance on digital infrastructure and the large volume of sensitive customer data it handles. Retail cyberattacks are unfortunately quite common in today’s digital landscape. These attacks can take various forms, from data breaches targeting customer information to ransomware attacks that cripple operations.

The retail industry is no stranger to cyberattacks, being one of the top targets for bad actors. In recent years, attackers have turned to Rogue Devices – bad USB devices that act with malicious intent, for example – to conduct hardware attacks. Due to their discreet nature, allowing the attack to go undetected for long periods of time.

Retail Cyberattacks

Hardware attacks, require the attacker to gain physical access to the organization and point-of-sale (PoS) systems are often the target. This allows attackers to store and capture credit and debit card information used by the customer, including the PIN. Sometimes, the Point of Sale (PoS) simply serves as the entry point because these systems are often connected to the same network as non-PoS systems. Therefore, any vulnerabilities on the network that the PoS resides on will leave it open to attack. Allowing the malicious actor to gain further unauthorized access to the organization’s confidential information.

Rogue Devices Attacks

The supply chain is another entry point for a bad actor attempting to conduct a hardware attack. Attackers might infiltrate a component of the retailer’s supply chain by manipulating devices in the production line. The Rogue Device can either target one of the suppliers, since they might have access to some of the retailer’s data. Or attackers might intend for the Rogue Device to pass directly to the end user in order to target the retailer directly.
Using Rogue Devices, like bad USBs, bad actors can conduct a variety of attacks, including a data breach. As mentioned, by targeting the PoS, bad actors can have access to customers’ private data. Individuals can sell it on the black market for a significant amount or utilize it to commit credit card fraud. Additionally, by accessing the organization’s network, an attacker can obtain confidential data on the organization with the intention to sabotage the retailer (Retail CyberSecurity).

Distributed Denial of Service Attacks

Additionally, Distributed Denial of Service (DDoS) attacks are common for the retail industry. As it allows attackers to overwhelm an e-commerce site, shutting down the company’s website and causing a loss of sales in addition to frustrated customers. The retail industry is also a frequent victim of ransomware attacks whereby the enterprise’s systems and files will be encrypted, and a ransomware payment will be demanded in exchange for a decryption key.

Cyberattacks Consequences

When a retailer experiences an attack and a data breach happens, the perpetrator potentially victimizes millions of individuals. Since malicious actors could sell their information on the dark web and use it for nefarious purposes. Importantly, the financial consequences, both direct and indirect, can amount to millions of dollars, including fines, lawsuits, loss of business, cleanup costs, and other expenses. Business credibility is also impacted as consumers will have the impression that the organization is not sufficiently protected. And, as such, neither is their information. Recovering from such reputational damage can sometimes be impossible, making it crucial to avoid it altogether.

Insider Threats

Insiders, are a very common threat to the retail industry due to the high employee turnover and the multiple points of vulnerabilities. Notably, there is little cybersecurity training. Which is not helped by the fact that there are many people handing aspects of the company’s business process. Insider threats are often act unwittingly because they are not aware of the risks that their actions pose to the company’s cybersecurity. Although unintentional, insiders can cause significant damage to the organization. A comprehensive cybersecurity training is a must in the retail industry (Reducing Risks in Retail Security).

Education, despite adding some improvements to an enterprise’s cybersecurity posture, is not enough to ensure full protection (Employees Role in CyberSecurity). Existing cybersecurity software solutions, let alone the human eye, cannot detect Rogue Devices. So, even with knowledge regarding the various risks, employees can still allow a bad actor to carry out a successful attack. As such, a Rogue Device Mitigation solution is essential.

Sepio’s platform detects and blocks Rogue Devices before they can conduct a successful attack. Thus protecting the organization from serious consequences. Cybersecurity must be a top priority for all industries, and the retail industry is no exception.

Cybersecurity Measures for Retailers

Sepio’s solution provides the physical layer visibility. It calculates a digital fingerprint of all hardware assets (IT/OT/IoT), thereby detecting every device for its true identity rather than solely relying on its claimed identity. Such visibility allows for the effective enforcement of the zero trust security protocols, thereby enhancing the overall zero trust approach. Additionally, the comprehensive policy enforcement mechanism of the Sepio’s asset risk management, combined with its Rogue Device Mitigation capability, means that any unapproved or rogue hardware is blocked instantly, preventing any hardware attacks from occurring.

With Sepio’s platform, retailers are cyber protected on physical layer. Existing cybersecurity investments are put to better use thanks to greater visibility.

See every known and shadow asset. Prioritize and mitigate risks.
Schedule a demo. Our experts will help you understand how to use Sepio’s patented technology to gain control of your asset risks.

August 31st, 2020