Every year, retail businesses across the globe serve billions of customers, processing terabytes of personal and financial information during these transactions. Retailers, in turn, use this data to improve their processes and service-delivery models.
The sensitive nature of data collected and stored during these transactions, however, makes retailers an attractive target for threat actors, and the numbers back this up.
In 2020, the retail industry was the fourth most-targeted industry by cybercriminals after finance, manufacturing, and energy industries—10.2% of all cyber attacks were targeted at retail businesses. Cybersecurity threats in retail can be entirely prevented if retailers stay updated and follow cybersecurity best practices.
Incident response is a word both well-known and dreaded by anyone well-versed with the processes and terminology of the world of cybersecurity.
Referring to the methodology used to handle security incidents, breaches, data leaks and other threats, cybersecurity incident response is, essentially, your doomsday plan or strategy.Within this process, there are a few crucial stages: Identifying attacks, minimising potential and actual damage, and then remedying the vulnerabilities that lead to the attack in the first place and adopting long-term preventative measures.