Keeper Security research: UK retailers attractive target for cybercriminals

The UK’s retail sector has experienced 44 cyberattacks in the last 12 months, according to new research by Keeper Security.

The company surveyed 200 UK IT decision makers. 77% believe that the number of attacks will only increase in the next 12 months.

When successful, the research found that cyber attacks against retailers have resulted in severe disruptions to partner and customer operations (34%), the supply chain (33%) and a company’s ability to trade (29%).

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However, the sector is acutely aware of the cybersecurity threats it is facing. 41% of respondents said IT has been the top investment priority over the last year. 

86% know where the gaps or weak links in their cybersecurity defences are. At the same time, however, only 35% are addressing all of them.

Moreover, senior IT leaders in the retail sector would like to see cybersecurity become a board level issue, with four in five calling for a member of the board to be dedicated specifically to the cyber welfare of the business.

Retailers are also aware that they can't solve all their cybersecurity challenges by themselves, especially as they currently consider an attack on a cloud provider they use to be their largest cybersecurity vulnerability.

“The retail sector has had a really tough time over the last 18 months, particularly on the frontline of the business, but what we have found is retailers are also struggling internally as well, especially with cybersecurity risk,” says Darren Guccione, CEO and Co-founder, Keeper Security. 

“Cybercriminals are targeting retailers as they see them as an easy target and the rewards for a successful breach are vast given the pools of data a retailer is likely to have on its system.”

“Over half of employees working in retail don’t understand the cybersecurity implications of poor password hygiene highlighting just how critical not only improving current cybersecurity training but also making sure the right IT staff are in place from the very beginning.”