Cybersecurity Controls implementation for Retail organizations

It is estimated that more than $5 trillion will be lost around the world on an annual basis due to intellectual property theft, data loss, systems breach, and cyberfraud. The retail industry will be one of the biggest that will directly get affected by these cyberattacks.

Retail businesses have a ton of customers’ data stored on their networks and databases. Every non-cash transaction creates and stores information about customer credit card and bank details. Millions of customers use retail credit cards to buy products in-store and online.

Criminals find retailers an easy target because they do not apply the high standard of security that is often used by banks and other financial institutions.

Cybersecurity Risks for Retailers

A majority of retailers collect customer data to identify purchasing patterns and shopping habits. What’s more, this information is used to tie marketing programs to the data through automation. In-store purchases are now directly linked to SMS or social media marketing. While this connectivity and automated marketing of stored data great for business, it can place customer information into the hands of criminals and cyberattackers who can breach the network for identity theft.

Retailers that are running e-commerce platforms face an additional risk. Online payments can only be made through EFT or cards and must be authenticated in real time. There have been many cases where hackers broke into a website’s payment system and instructed the buyer to forward the payment into their own untraceable account instead of the retailer. The payment would be gone before the customer and retailer even realized what was going on.

Cybercriminals can also steal credit card numbers, bank account details, SSN and other data of online shoppers during form submission or from a stored database. Customers often blame the retailer for failing to implement security control measures on their website

Cybersecurity and the Cloud conundrum

Retail businesses face the same challenge that many other businesses have to address these days. They must make it easier for their customers to communicate with the retailer and need to collect information to offer better products and services. At the same time, they need to guard against cyberattackers who keep coming up with more ingenious ways to hack and steal the customer information saved on their system.

Cloud connectivity is the future of business given how convenient it is for the customers. However, it must be supported with cybersecurity controls that ensure customer data will be protected and does not fall into the wrong hands.

Why Retail Organizations Need Cybersecurity Controls Implementation

If a retailer’s database is hacked it can potentially provide criminals with sensitive information about millions of individuals. The information can be sold and shared on the dark web and could be combined with other information to build a profile that can be used for identity theft.

Implementing cybersecurity controls with Torii CyberSecurity Controls (CSC) significantly reduces the chances of database hacks and payment diversions. For example, the PCI DSS security standard that can be automated using CSC can handle card payments and eliminate the chance of systems hacks during PoS transactions.

This standard is mandatory in many European countries and US states.  Torii CSC can also remove distributed denial of service (DDoS) attacks, prevent ransomware attacks and consistently monitor your systems for the latest cyberthreats and attempted attacks.

Why choose Torii CSC for Retail security?

• Our team of experts will help your retail business find the right security investment strategy that pays long-term dividends and keeps threats at a minimum.
• We offer a quick implementation service. We understand that retail businesses cannot undergo long-term disruption to their operations. This is why we roll out the security measures with minimum downtime to your ongoing operations.
• Working with Torii security professionals will fulfill your compliance obligations.
• Most other IT firms provide a host of services with systems security being just one of their offering among many others. Torii is a certified security firm that specializes in cybersecurity controls 

implementation and we are at the forefront of detecting and preventing all sorts of cyberthreats.

• We have worked with both large retail corporations and small online retailers and consistently deliver the highest CSC standards all across the board.
• We offer customized cybersecurity controls services that are aimed to match your budget and minimize costs for your retail business.
• Our professionals take a proactive approach to cybersecurity. We continuously monitor and test the client networks, systems, and database for vulnerability. Whenever the possibility of a system breach is detected, we warn the client to take preventive measures to stop any attacks.

Need help implementing a Cybersecurity Program or Torii CSC?

We offer a set of consulting services that enable an organization to implement these controls. We also do offer a phased approach for this implementation and they are as follows: