• Articles
    • Editorial Articles
    • Research Articles
    • WatchGuard Articles
  • The 443 Podcast
  • Threat Landscape
  • About
    • About Us
    • Contact Us
    • Contribute to Secplicity

Secplicity - Security Simplified

Powered by WatchGuard Technologies

Over Half of UK Retail Fraud is Now Digital

February 6, 2017 By The Editor

shopping

An annual retail crime survey from the British Retail Consortium has found that 53% of retail fraud in the United Kingdom comes from online sources such as phishing, data breaches and digital theft of customer data, totaling 100 million pounds in losses. Of the 1.1 million retail employees surveyed, half believed cybercrimes were one of the most significant future threats in their industry and 91 percent believed the total number of cyberattacks is increasing or staying constant.

Respondents were more positive about their ability to fight these threats. Over three-quarters of respondents feel they have a manageable ability to find and hire staff with cybersecurity expertise and nearly all respondents said their organization provides cybersecurity training. This is encouraging, since data breaches are less likely to occur if employees are trained to notice the warning signs for phishing emails, social engineering scams and other attacks.

Although these finding focus on the UK specifically, digital retail fraud is a serious issue in the United States as well. Since the 2015 implementation of EMV chip-enabled credit and debit cards in the US, online credit card fraud has increased, especially over major holiday shopping periods like Black Friday and Cyber Monday. Many experts believe that attackers are shifting their tactics to target online shopping now that EMV has make card-present fraud much more difficult.

Read more about the UK retail fraud survey at SC Magazine and see the data itself here.

Share This:

Related

Filed Under: Editorial Articles, Featured Tagged With: cyber security, Infosec news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

The 443 Podcast

A weekly podcast featuring the leading white-hat hackers and security researchers. Listen Now
the 443 podcast

Threat Landscape

Filter and view Firebox Feed data by type of attack, region, country, and date range. View Now
threat landscape

Top Posts

  • Cybersecurity News: Free Cybersecurity Training, TrickBot Group Exposed, Major GoDaddy Breach, and Russia to Legalize cybercrime?!
  • US National Cybersecurity Strategy
  • 3CX Supply Chain Attack
  • Here Come The Regulations

Email Newsletter

Sign up to get the latest security news and threat analysis delivered straight to your inbox

By signing up you agree to our Privacy Policy.


The views and opinions expressed on this website are those of the authors and do not necessarily reflect the policy or position of WatchGuard Technologies.

Stay in Touch

Recent Posts

  • 3CX Supply Chain Attack
  • The NSA’s Guidance on Securing Authentication
  • Cybersecurity News: LastPass Incident Revealed, White House Issues Cybersecurity Strategy, FBI Purchases Leaked USHOR PII Data, and a Slew of Other Breaches
  • An Update on Section 230
  • Here Come The Regulations
View All

Search

Archives

Copyright © 2023 WatchGuard Technologies · Cookie Policy · Privacy Policy · Terms of Use