Anyone who has paid attention to the retail landscape is aware of the growing complexity at which cyber criminals are attacking retailers. If they were not, the news of the Target breach that is affecting 110 million customers was a real eye-opener. Unfortunately. many businesses are vulnerable.
A recent article from Help Net Security examined several studies and paints a poor picture of retail security, especially when it comes to small and midsized businesses (SMBs). A report from Fortinet featured the results of a survey of 100 SMB retail organization with fewer than 1,000 employees. While a majority said they understand PCI compliance and the complex nature of security, 22 percent are not PCI DSS compliance and 14 percent are unsure.
To make matter worse, 55 percent of respondents are unaware of their state’s security breach requirements and 40 percent do not have policies in place that reflect these.
“Further survey results show that many SMBs fail to employ strong security practices, such as policies to enforce password security, which puts them at risk for brute-force attacks, data breaches and regulatory violations,” the article reads.
All of this is creating an environment that could be hit with regulatory compliance violations from compromised customer data, resulting in financial penalties, litigation and the damage to a company’s reputation.
Ensuring every aspect of store management software solution and the network that supports it is safe is a challenge. With the help of a retail solution provider, any sized retailer can take steps toward improving their security while improving operations.