The Retail Data Threat Environment and Why CIAM is a Key Cornerstone to Better Cybersecurity.

The retail landscape has changed significantly. Digital payments have increased at an unprecedented rate, the global pandemic changed our shopping habits, and the “work from everywhere” culture has quite frankly blossomed. Cybersecurity awareness, however, has not kept up. In fact, only 49% of organizations have a ransomware response plan, compared to 48% in 2022.

Yet, the heart of retail operations – point-of-sale (POS) devices – are constantly on the radar of scammers, and when it comes to digital interactions, the retail sector is ranked as one of the most vulnerable industries to cyber-attacks.

Customers should be aware of the existing threats, while retailers must understand the risks associated with poor management of customer identities.

The need to increase retail cybersecurity awareness

The risk of cyber-related attacks expands along with customers’ demand for payment options and convenience. The extra vulnerability stems from a wide range of users and all the way to the software, hardware, and cloud-based components required to meet modern demands.

Apart from its size and the millions of POS devices and transactions, retail is susceptible to human activities, perception, and a changing regulatory framework. In retail, everything changes fast: processes, procedures, and technology.

Securing web transactions and sensitive data against retail cybercrime in a rapidly evolving environment is imperative. This task includes effectively managing not only employee identities but also the external identities of gig workers and customers. Everyone needs to increase the level of retail cybersecurity.

• Customers must be aware of retail cyber threats.
• Retailers must protect access to their data and systems by accelerating the adoption of a Zero Trust approach to security.
• Financial organizations must secure POS transactions and protect sensitive data.

Noteworthy patterns in

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The Retail Data Threat Environment and Why CIAM is a Key Cornerstone to Better Cybersecurity.