You can’t click on any news story today without seeing online businesses around the world getting locked-up by ransomware and financially ruined by cybercriminals. From the Microsoft Server attacks in March to the SolarWinds Corporation breaches last year, strikes against e-commerce are at an all-time high. Online retailers are getting hit harder than any other industry.
Cyberattacks “increased significantly” during the pandemic, according to the Global Security Report. The reason – new and inexperienced retailers were forced to move online because of the pandemic, and their customers followed them.
While retailers make attractive targets for hackers, there are three steps you can take to increase business identity theft protection and to make your online store a harder target for thieves.
What is the likelihood of a retailer being a victim of ransomware?
According to cybersecurity experts nearly half of all retailers will be hit by ransomware.
How much does a ransomware attack cost a retailer?
According to the Sophos Cybersecurity report, the average ransom retailers pay is almost $150,000.