Retail companies rank high on hacker lists, with recent reports putting this industry ahead of the pack for sheer volume of cyberattacks. It makes sense, with retailers often handling millions of transactions each year, attackers capable of compromising networks gain access to massive data volumes they can leverage for fraud or sell online. With an increase on skimming, ransomware and cyber threats, organizations must continually enhance their security controls.
As a result, companies need retail cyber security solutions capable of defending current infrastructure, detecting potential attacks and delivering advanced protection to mitigate emerging threats. Here’s how HALOCK can help.
Cyber attacks are on track to cost companies more than $6 billion per year as malicious actors target everything from intellectual property to product data and email accounts. Retailers face greater-than-average risk in this new cyber security environment, thanks to the amount of consumer data handled and stored by their networks. Credit card information could be used to make fraudulent purchases, while personal and account data could be leveraged to create fake credit accounts or steal user identities. Remote work environments increased our reliance on e-commerce and online transactions, exposing vulnerabilities to cyber threats and attacks. Generic solutions offer some protection for critical data, but purpose-built retail information security solutions are now required to effectively mitigate retail risks, especially now with enhanced digital services such as BOPIS (buy online and pick-up in-store) and curbside pickup.
Sales and Service
At HALOCK, we’ve developed a range of industry-specific security offerings to help organizations meet InfoSec obligations and improve retail network security. Specially-designed for retail challenges, we can help balance security, compliance without disrupting the user experience (UX). Some of our most popular retail cybersecurity services to protect your sales include:
- PCI DSS Compliance: PCI DSS compliance is critical for any company that handles consumer credit card information; the regulation specifies best practices for storage, use and security that must be regularly evaluated. Our experts can help your organization obtain — and maintain — PCI retail compliance. It is essential to review your current compliance to plan how it impacts your transition to PCI DSS v4.0. Register for our PCI Compliance Webinar Series to help you transition to the new standard.
- Retail Security Engineering: What type of reasonable security spending makes the most sense for your needs and budget? HALOCK’s security engineers have the industry expertise you need to maximize the impact of security spending. With increased customer data and integration of cloud services, retailers need to identify, classify, and manage all their information and secure appropriately – which can be a significant project. We can streamline this process for you and incorporate the proper safeguards to help manage your sensitive data.
- Network Penetration Testing: From e-commerce sites to mobile payment applications, retail companies now use a host of open-source and third-party APIs and software to provide top-tier customer service. Before launching a new e-commerce app, validate it is secure to handle customers’ private data. Test to see if your controls and team can respond appropriately in the event of a breach with an Assumed Breach or Adversary Simulation penetration test. Conduct a remediation verification pen test to confirm vulnerabilities are fixed. Consider a Recurring Penetration Testing program to assess your safeguards throughout the year for a proactive security approach. Our penetration testing services help you discover and remediate critical application and service vulnerabilities. Read a case study about a retailer’s success with HALOCK’s penetration testing services.
- Incident Response and Digital Forensics: Cyber security threats in retail are not unusual — and when they occur, companies need the ability to respond quickly and identify root causes. HALOCK’s incident response and forensic services help you mitigate incident impact and uncover attack origins. Our incident response management, process, and planning provide comprehensive coverage in the event of a security breach. Update your incident response plan (IRP) to adjust to your changing business operations. Mitigate your cyber risk by being response-ready. Explore an ongoing program that gets in front of any potential threats or attacks with an Incident Response Readiness as a Service (IRRaaS) program.
- Mergers & Acquisition (M&A): As part of the due diligence process of an M&A, organizations must understand the risk and security profile of their partner or target company. You must determine what liabilities or risks can arise under the other company’s cybersecurity program. With HALOCK’s M&A program, we can help you through the entire process from pre-acquisition to post-acquisition to identify risks, remediation steps, and establish reasonable security.
- Third Party Risk Management (TPRM) /Vendor Risk Management: Ensure third-party partners are aligned with your organization’s risk controls. A recent Panorays study revealed 41% of organizations are not sure if their suppliers were out of compliance in the past year. It also indicated that half of the respondents cited third party risk as one of the top 5 items in their risk register and expect this risk to increase. Vendors and contractors serve as an extension of your group. They represent you and should operate under your business requirements. A required best practice is to always conduct a supplier risk assessment to keep your vendors on point with your security posture. HALOCK can help build and manage a specific program for your retail or e-commerce environment.
- Risk Assessments and Risk Management Program: Regulations require your safeguards be reasonable to your organization, customers, and partners. With many frameworks available, how do you establish your acceptable risk? The Duty of Care Risk Assessment (DoCRA) helps you define a reasonable security strategy factoring in compliance and safeguards based on your specific business, objectives, and obligations. With the release of the Securities and Exchange Commission (SEC) Cybersecurity rules on disclosure, it’s essential that you regularly review your risk profile.
- Privacy: CCPA is the most sweeping legislation to date in the U.S. that concerns the protection of personal information. It broadens the definition of what constitutes personal information and gives California citizens greater control over what companies can do with their personal data. This includes the right to exempt their own personal information from being shared or purchased on the open market. Understand the impact this change and other states’ requirements have on your organization. Know what private information you manage and where it is located to properly secure – conduct Sensitive Data Scanning as a Service (SDSaaS) to ensure you have a current data inventory of sensitive information.
- Cyber Security Awareness Training: With many employees now working remotely, they are targets for hackers. Ensure they understand the potential threats they may experience and best practices to prevent cyber attacks on your network or customer data. Security Awareness training will provide guidance on how to detect suspicious activity and what to do in the event of a security incident.
- Security Engineering & Tools: Ensure you have the proper infrastructure to defend sensitive data of your employees, customers, and more. Conduct security architecture reviews, sensitive data scanning, and implement threat monitoring programs to proactively secure against cyber threats. Ensure you have the security safeguards required by compliance requirements like multi-factor authentication (MFA) or a web application firewall (WAF). A consistent and steady review of your threat landscape is a best practice for your industry through a managed detection and response program (MDR) or Threat Hunting Program.
“Topics were explained in an easy to understand way.”
– Restaurant chain
It’s our mission to help organizations improve their cyber security in the retail industry by defining their acceptable level of risk; identifying their “duty of care” for cyber security; and implementing purpose driven solutions that empower compliance, mitigate attacks and establish a foundation for ongoing security success. HALOCK combines expertise in analysis and execution, allowing our teams to evaluate retail security deployments end to end and provide actionable recommendations. We recognize the key challenge for retail organizations — protecting consumer data while maintaining sales volumes and speed. HALOCK’s purpose driven security is designed to find the balance by deploying the right amount of security to defend critical assets without negatively impacting the IT or your customer experience – specific retail security solutions. A digital-first world demands new retail cyber security solutions to protect data and drive sales. Retailers require reasonable safeguards that balance an organization’s mission, objectives, and social responsibility. HALOCK can help. Let’s talk.
Read HALOCK Breach Bulletins and articles on the Retail Industry.
PCI WEBINAR SERIES
PCI DSS v3.2.1 expires on March 31, 2024. With 64 new requirements in PCI DSS v4.0, companies have a lot to consider in preparation for the coming deadline. In our 5-part PCI Webinar Series, from April 27-June 1, 2023, learn about the general changes to 4.0, new requirements, best practices, and how an increased focus on risk evaluations in this new version will be a driving force for security and compliance.
Viviana Wesley, CISM, PCI QSA, ISO 27001 Auditor and HALOCK Principal Consultant reviews key updates and next steps to support your transition to PCI DSS v4.0.