Industry snapshots

Cyber risk in the Retail industry

The retail sector is undergoing a number of changes to keep up with the changing nature of doing business in an increasingly online world. A key driving force in this regard is responding to the needs of consumers, who expect mobility in their shopping experiences, pushing more retailers to migrate their services onto online platforms. Retailers have always been a popular target for crime, but the growing dependence on integrating information systems has exposed them to a new front in their struggle with criminals. 

A single point of sale (POS) system may process thousands of transactions every day, and for this, malware has been designed with the capacity to breach retailers’ cybersecurity and capture credit card data when payments are made. Many retailers still operate on older, outdated operating systems which create dangerous vulnerabilities in cybersecurity because they cannot deal with newer forms of malware. Although more secure systems have been developed, many retailers have been slow to embrace more secure technologies and cybersecurity strategies that could improve the safety of sensitive data.

More industry snapshots

View all
industry snapshot

Transport

industry snapshot

Finance

industry snapshot

Real Estate

industry snapshot

Legal

industry snapshot

Manufacturing