Over 77% of companies globally have suffered from some kind of attack during the past 12 months, says Kaspersky.
This is according to the Kaspersky Lab IT Security Economics Report, which notes that over the past year there has been an upsurge (up to 16%) in both distributed denial of service (DDOS) attacks, and attacks targeting in point-of-sale (POS) systems.
An increase in attacks where DDOS and POS systems were the main vectors are making the situation even worse - especially during the Christmas sale season, when there are more shoppers in store than usual and the boost in sales is making retailer revenues an attractive target for cyber criminals, it adds.
Kaspersky says 2017 has seen a series of high-profile cyber security breaches reported in the payment systems of major brands - from Chipotle to Hyatt Hotels and recently, Forever 21. to the latest Kaspersky DDOS Intelligence Report noted a considerable increase and geographic spread in botnet DDOS attacks in the third quarter of 2017, with targets in 98 countries - compared to 82 in the second quarter.
A major effect of POS hacks is the possibility of identity theft, says Trend Micro. Personal and sensitive information stolen from credit and debit cards can be used to impersonate unsuspecting consumers. These victims may soon encounter problems such as fraudulent purchases, financial loss, and damaged credit standing, notes Trend Micro.
This situation is going to be extremely relevant to retail and e-commerce organisations during the intense period of sales around Christmas, says Kaspersky. As shoppers look to bag their bargains, retailers can expect increased revenues, it adds.
This in turn makes retailers a lucrative prize if cyber criminals can stage successful DDOS attacks against them for a ransom, using POS systems as an entry point for targeted attacks or stealing customer credentials and money, says Kaspersky.
"Given this year's apparent increase in these types of attacks, we recommend businesses - retailers in particular - to stay alert during the Christmas season, when there are more risks of cyber criminals cashing-out through the exploitation of payment systems or attacks that use DDOS," says Alessio Aceti, head of enterprise business division for Kaspersky Lab.
"These can involve cyber criminals demanding a ransom, or simply preventing an organisation from trading, making them lose income and clients as a result. This is also a good opportunity for businesses to develop their cyber security culture and invest in the right technologies."
Share