Retail sector in the UK faces one cyber attack every eight days

The UK retail sector has skilled 44 cyberattacks within the final yr, with one assault each eight days, claims new analysis from Keeper Safety. As a part of 2021 Cybersecurity Census Report, 77 p.c of shops imagine that the variety of cyberattacks they face will enhance within the subsequent 12 months and have an effect on the complete retail ecosystem.

The retail sector has been below immense strain for the previous 18 months. The COVID-19 pandemic has hit retailers with major avenue retailer closings and main provide chain disruptions on account of Brexit. As well as, there are cyberattacks that additionally trigger disruptions.

Cyberattacks on the rise within the retail sector

When profitable, the analysis discovered that cyberattacks towards retailers have brought about extreme disruptions to associate and buyer operations (34%), the availability chain (33%), and a retailer’s skill to commerce (29%). ), highlighting that it isn’t simply macro. points retailers need to grapple with.

Nonetheless, the retail sector is effectively conscious of the cybersecurity threats it faces. 41% of respondents mentioned IT has been the highest funding precedence over the previous yr. The overwhelming majority of shops (86%) know the place the gaps or weak hyperlinks are of their cybersecurity defenses. However worryingly, solely 35% are addressing all of them, which implies that some vulnerabilities proceed to be exploited by dangerous actors.

Moreover, senior IT leaders within the retail sector would really like cybersecurity to turn out to be a problem on the board stage, with 4 out of 5 (78%) asking {that a} board member particularly dedicate themselves to cyber wellness of the corporate. On the identical time, retailers are conscious that they can not resolve all their cybersecurity challenges on their very own, particularly since they presently contemplate an assault on a cloud supplier they use to be their biggest cybersecurity vulnerability.

“The retail sector has had a extremely robust time over the past 18 months, notably on the entrance line of enterprise, however what we have discovered is that retailers are struggling internally too, particularly with cybersecurity danger.” defined Darren Guccione, CEO and co-founder of Keeper Safety. “Cybercriminals are concentrating on retailers as they see them as simple targets and the rewards for a profitable breach are large given the swimming pools of information a retailer is more likely to have on their system. Greater than half of workers working in retail don’t perceive the cybersecurity implications of poor password hygiene, highlighting how vital it isn’t solely to enhance present cybersecurity coaching, but additionally to make sure that the suitable IT employees are in place from the beginning. “

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