As the world becomes ever more digital, it’s become more important to protect your retail systems from cybercrime. Not only does this protect your business from financial losses, but it can also damage your reputation and impact your customer relationships. In this article, we’ll outline the steps you need to take to protect your business from cybercrime, and provide some tips on how to deal with any attacks that do occur.
Cybercrime Prevention Tips for Retailers
- Employee Training
The easiest approach to avoid cyber assaults is to train staff on how to spot common phishing scams and bogus email content on a regular basis. Suspicious links, a request for payment (debit or invoice), grammar errors, punctuation, and wording, a time limit on the sense of urgency in an email, and a generic greeting style are all examples.
- Don’t forget to back up your data.
Even if you have comprehensive cyber insurance that covers extortion payments in the case of a cyberattack on your retail system, backing up your data is critical. According to research, retail businesses that paid a ransom demand were able to recover about two-thirds (67 percent) of the data that had been stolen.
Businesses should store two backups of their important data on distinct systems, one of which should be off-site or offline. That way, if ransomware encrypts your data or your pos systems for retail, your business operations will be little impacted and you will be able to continue trading.
- Make sure you’re following the PCI DSS.
The Payment Card Industry Data Security Standard (PCI DSS) is a collection of strict standards and guidelines established by the top card issuers to help keep consumers’ sensitive card details secure, as any store owner who accepts card payments should know.
To ensure PCI DSS compliance, you must first determine which of the four compliance levels your business falls into:
Level 1: Companies that process more than 6 million card transactions per year.
Level 2: Companies that handle between 1 and 6 million transactions each year.
Level 3: Companies that process 20,000 to 1 million transactions each year.
Level 4: Companies that conduct fewer than 20,000 transactions each year.
Most smaller retail enterprises will fall into levels 3 or 4 of the standard and hence be eligible to become PCI DSS compliant by completing a self-assessment checklist. Organisations in level 2 can also submit a self-assessment questionnaire, whereas businesses in level 1 must undergo an external audit by a Qualified Security Assessor (QSA).
- Invest in a reliable POS system.
Hana Retails provides a strong tool for businesses to safeguard the epos retail system. It takes a zero-trust approach, allowing only company-approved apps and processes to function, allowing businesses to stay ahead of even the most complicated and zero-day threats.
Cybercrime is a rapidly growing problem that is affecting businesses of all sizes, and the sooner you get on top of it, the better. The solution is a POS retail system! That’s why we’re excited to announce our free demo program that will teach you everything you need to know about our secure retail system, Hana Retails. By signing up for a demo today, you’ll be one step closer to safeguarding your business from cyber threats. Stay tuned for more updates!