what are
the potential cybersecurity
challenges in
Using Lot in Retail
us
Answers
Answer:
Explanation:The retail sector has always been at the risk of cyberattacks. The industry has already seen high-profile data breaches, some of which have happened in the recent past at large retail brands, lucrative to cyberattackers, such as Target, TJX and Home Depot.
One of the major reasons for these attacks is the fact that the number of vectors is huge. This industry sees a large volume of cards, cash, POS and online transactions on a regular basis making retail a sought after target for cyberattackers.
Especially nowadays, the retail sector is increasingly moving towards digital and while this will bring a plethora of opportunities, the risks of cyberattacks also automatically become immense. The numbers for various surveys have said it aloud – a 2018 report found that 50% of retailers have been breached in the past year. The monetary consequences for retailers can also be major – according to a KPMG study, 19% of customers said they would completely stop shopping at a retailer over a hack while 33% said they would not shop at the same retailer for more than three months.