Retail Sector as the favorite target for cybercriminals

Retail Sector Blogs | IEMLabs

Day by day, the retail sectors are becoming the favorite target of cybercriminals. Amid the COVID-19 pandemic, when there is a rapid increase in online purchasing and the major retail firms are using digital platforms to carry out their business, Cybercriminals are more likely to attack these sectors.

In recent past, several retail giants including Croma, Ticketmaster, Kmart, Dickey’s Barbecue Pit, Viandes Dubreton, PupBox, Designer Brands Inc., and Premier Kids Care Inc. have been affected by security incidents that compromised their customer data. The major attack vectors used in these recent cyberattacks, leading to data theft, include unauthorized access, code injection, ransom demands, phishing, spoofing, and fraud. 

On analyzing these incidents, researchers have identified that attackers have mainly targeted the U.S based retailers. The most affected regions included Southeast Asia, Eastern Europe, and North America. Zeppelin, Egregor, Ransom X, Clop wtc are some of the active ransomware groups targeting the retail sector along with the Qakbot Trojan and Trickbot botnet.

Experts believe that sudden digitization and lack of adequate security are making the retail sector more vulnerable. So, monitoring POS systems to check for breaches, educating employees about cybersecurity, testing company email systems for malware, and encrypting any essential data to keep it safe are highly recommended.

By Hrithik Lall

IEMLabs is an ISO 27001:2013 and ISO 9001:2015 certified company, we are also a proud member of EC Council, NASSCOM, Data Security Council of India (DSCI), Indian Chamber of Commerce (ICC), U.S. Chamber of Commerce, and Confederation of Indian Industry (CII). The company was established in 2016 with a vision in mind to provide Cyber Security to the digital world and make them Hack Proof. The question is why are we suddenly talking about Cyber Security and all this stuff? With the development of technology, more and more companies are shifting their business to Digital World which is resulting in the increase in Cyber Crimes.

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