Cybercriminals are increasingly focusing their attention on thriving markets and enterprises, and the retail industry is no exception. Retail is a common target for hackers who want to steal both money and client information.
Customers are directly responsible for the success of any retail firm, and every incident that negatively impacts customers will have an impact on business. Financial stability is a key component of any business's success, and one of the worst effects of cyberattacks is the unpredictability of financial losses. Retailers have unique financial risks, such as the possibility that an attacker will lower the price of pricey items in an online store. The retailer will lose money if the attack is undetected and the products are sold and shipped at a discounted price.
Card skimmers, unprotected point-of-sale (PoS) systems, unprotected or public Wi-Fi networks, USB drives or other physical hacking equipment, unprotected Internet of Things (IoT) devices, social engineering, and insider threats are all ways that threat actors can access companies after physically being present there.
Threat actors can also steal or hack susceptible IoT devices using the default technical information or credentials. Last but not least, there are still more potential entry points for cyber infiltration, including inexperienced staff, social engineering, and insider threats.
Potential Threats
Unsecured Point-of-Sale (PoS) Systems and Card Skimmers: It is possible to physically plant fake card readers, or 'skimmers,' inside a store to copy or skim card data. These can also be used for other smart cards, such as ID cards, although they are frequently used to steal credit card information. In places with poor security, like ATMs or petrol pumps, legitimate card readers might have skimmer attachments. Skimmers are simple to install and use Bluetooth to send the data they collect.
Public or insecure Wi-Fi Networks: Backdoors into a company's systems can be created using rogue networks or access points, which can be put on a network's wired infrastructure without the administrator's knowledge. In order to deceive users into connecting to them and aiding man-in-the-middle attacks, they seem to be legal Wi-Fi networks. Hackers can view all file sharing and traffic sent between a user and a server on a public Wi-Fi network if the facility has an encryption-free connection.
Virus-Carrying USB Devices: Once a USB drive is plugged into a target computer, an attacker can utilize it to deliver and run malware directly on business computers. This can be done manually or automatically. Additionally, malicious USB charging stations and cables have been reported in the past. In one example, a USB charging cable for an electronic cigarette contained a tiny chip that was secretly encased in malware.
Untrained Employees, Social Engineering, & Cyberespionage: Threat actors might work out of physical places to use inexperienced workers to get access to company systems. Employees are frequently duped into giving login passwords, account information, or access to company resources through social engineering.
The transition to e-commerce is generally a positive development for retailers. However, this change of direction also poses a threat to e-commerce cybersecurity.
