BDO Cyber Threat Insights - 2019 1st Quarter Report

With access to sensitive customer data, the retail industry is a prime target for cyber-attacks.  In the past decade, the retail industry has undergone major shifts worldwide due to the rise of the internet. As a result, the burgeoning e-commerce industry has significantly impacted “classic retail” as enormous digital platforms like Amazon, eBay, AliExpress and TaoBao significantly accelerate the pace of digital transformation, with 10 percent of total retail business worldwide being generated by e-commerce.
 
Although this increased reliance on the internet has begun a new chapter for the retail industry, it has also opened the door to ample vulnerabilities for cybercriminals. Financial information—especially credit card numbers—are considered a highly lucrative reward of a successful cyber-attack because
they can be quickly monetized on the Darknet. 
 
In BDO’s latest Cyber Threats Quarterly Report, we explore what these trends mean for the retail industry, specifically:

• Analysis on the major industry attacks: How did they happen? Are there any lessons that can be learned?

• Can digital transformation and threat-based cybersecurity help retailers thrive?

• Any cyber-specific results from our recent BDO surveys including BDO’s Retail Rationalized Survey and Digital Transformation Services Survey?