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Retailers should be prepared for Black Friday cyber attacks

With Black Friday but four days away, cyber security firm McAfee has urged retailers to ensure they are prepared for potential criminal behaviour online.

McAfee’s July Quarterly Threats Report found that cyber attacks against the retail industry jumped 15 per cent in the first quarter of 2020, and with more people turning to online shopping this year it can be expected Black Friday will be no exception.

And after a difficult year its entirely possible most retailers are not prepared. Between attacks on point of sale terminals, distributed denial of service attacks to crash websites, as well as ransomware, malware, and phishing, there are a number of ways criminals look to target companies and their customers.

All e-commerce businesses should have a page on their site dedicated to educating customers on what to look out for to avoid scams, and to communicate any scams that have been reported. Additionally, employees should be trained in what to look for in order to better identify potential scams that may be occurring.

According to McAfee, phishing accounts for 90 per cent of successful cyber attacks.

“Should a retailer become the victim of a successful cyberattack, the results can be catastrophic. Loss of reputation, financial impact, brand damage, loss of trust and even having to close the doors. This is nothing to laugh at,” the business said.

“This is serious business for the cybercriminals and protecting your systems, customers and even vendors must be a priority.”

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