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Cyber security is the "biggest threat to retail"

18 December 2019

A new white paper from Axis Communications highlights the need for greater cyber security in retail.

According to the company, data breaches are a major risk for both retailers and customers. In addition to the disruption and downtime a breach can cause, the damage to the reputation of a business or brand can be lifelong. And with the ICO now able to impose GDPR related fines on companies of as much as €20m or 4% of global annual turnover, whichever is higher, the price of complacency can be catastrophic.

Axis added: "Customer data is at the heart of a frictionless shopping experience and presents an attractive commodity to cyber criminals. It has been reported that in the last 12 months there have been 19 significant data breaches. This whitepaper will serve to create awareness of the challenges being faced on the high street, and how cybersecurity lifecycle management of IoT devices will support a retailer’s business operations, brand and help to maintain customer trust."

Key points covered in the retail whitepaper include:

  • Review of cybersecurity challenges - Supply chain attacks, IoT vulnerabilities, the impact of operational downtime
  • GDPR, data protection and privacy - Examining the necessary actions to ensure full compliance with the GDPR and DPA 2018
  • Video surveillance insights – Understanding how data analysis can inform security and business decisions, and supply chain evaluation
  • Managing security effectively – Processes and tools to help the design, development and testing of systems in accordance with cybersecurity principles
  • Converged security – A collaborative approach to addressing cybersecurity risk

Download the white paper at: https://www.axis-communications.com/retail-GDPR-and-cybersecurity