Retailers are currently involved in updating their security measures in preparation for the busiest sales season of the year.
Last year, the Target breach powerfully affected the company’s holiday sales, which businesses depend on to make their yearly revenue goals. Retailers are taking this as a lesson in prevention.
The figures on data breaches over the past few years have been startling. According to Verizon’s 2013 Data Breach Incident Report, point of sale invasions constituted 31 percent of retail data breach incidents, and 75 percent of breaches in the accommodation and hospitality sector. Cyber-criminals view POS systems as vulnerable entryways into a company’s secure informational vaults, and companies are currently hustling to seal up their software’s weak spots.
The notorious Backoff malware is responsible for many of the attacks in the past year, having infiltrated over 1,000 company systems. Now, security blogs are reporting that hackers have created a new version of the technology that is even more difficult for security software to detect.
“The main reason for this is that there is a direct return on investment that can be seen in their efforts,” said Nicholas J. Percoco, vice president of strategic services at cyber-security firm Rapid7. “When a major brand is targeted, the cyber criminals gain an advantage by investing in their malware development to ensure they are not detected by traditional controls.”
If you own a business, it will be worth your while to examine the security measures that are currently being used to monitor your systems. Before the holiday season officially arrives, update your point of sale retail software so that both your business and your customers are protected from cyber-criminals.