Why merchants must look beyond the obvious points of network intrusion, and why composite authentication is the cyber attacker’s kryptonite.
By Chris Trytten, Director, Product Marketing at Crossmatch
In its 2016 Retail RiskFactor Report, accounting firm BDO reports that in 2016, for the first time in history, risks associated with data privacy and security breaches were cited by every retailer in their 10-K filings. In 2011, just 55% flagged the potential of a cyber security breach as threatening. As recently as 2007, it was a concern of just 26% of retailers.
The rise of this concern is entirely plausible. Retailers face, on average, at least eight cyber-attacks per year, with 74% of them considered advanced threats, according to research from the Ponemon Institute. 2 This constant exposure to cyber threats stacks the deck against ill- or under- protected retailers.