Home Tech News Dimension Data: Retailers beware! Cybercriminals now target retail sector

Dimension Data: Retailers beware! Cybercriminals now target retail sector

Dimension Data: Retailers beware! Cybercriminals now target retail sector
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The latest annual NTT 2016 Global Threat Intelligence Report reveals that cybercriminals have shifted their focus from traditional financial markets, to targeting the retail sector, according to Dimension Data.

A telecoms mast
A telecoms mast, now targetted by cybercriminals

NTT’s annual Global Threat Intelligence Report as stated by Dimension Data Company, contains security threats gathered during 2015 from 8,000 clients of NTT Group security companies which includes Dimension Data, Solutionary, NTT Com Security, NTT R&D, and NTT Innovation Institute (NTTi3).

The company also says that this year’s data which is based on 3.5 trillion security logs and 6.2 billion attacks is also gathered from 24 Security Operations Centres and seven research and development centres of the NTT Group.

According to the report, retail organizations experienced nearly three times as many cyberattacks as those in the finance sector which was top of the list of cyberattacks on organizations in the 2015 report.

Cyberattacks on financial industry dropped significantly to fourteenth position while the retail sector topped the list of all cybersecurity attacks on all sectors at just fewer than 11% in this year’s report, knocking the finance sector out of first place, the company further stated.

Matthew Gyde, Dimension Data’s Group Executive, Security, explains: “The retail and financial sectors process large volumes of personal information and credit card data. Gaining access to these organizations enables cybercriminals to monetize sensitive data such as credit card details in the black market, which validates that cybercriminals are motivated by the rewards of financial crime.[quote font_size=”22″ font_style=”italic” align=”right” bgcolor=”#” color=”#” bcolor=”#” arrow=”yes”]Analysis of honeynet attacks in organizations reveals that attackers are making use of telcos and hosting providers to conduct their operations.[/quote]

“Retail companies are becoming increasingly popular targets as most process large volumes of personal information, including credit card data, in highly distributed environments with many endpoints and point-of-service devices. Such diverse environments can be difficult to protect”, Gyde added.

Other highlights in the NTT 2016 Global Threat Intelligence Report as highlighted by Dimension Data include:

-65% of attacks originated from IP addresses within the US. However, these IP addresses which could be located anywhere in the world. Cybercriminals are adopting low-cost, highly available, and geographically strategic infrastructure to perpetrate malicious activities.

-Cybercriminals are increasingly leveraging malware to breach the perimeter defences of organisations. In 2015 there was an 18% increase in malware across all industries, excluding the education sector.

-The frequency and complexity of malware is becoming more stealthy and sophisticated: while organizations are developing sandboxes to better understand cybercriminal’s tactics to protect themselves from attacks, at the same time, malware developers are aggressively developing anti-sandbox techniques.

-Analysis of honeynet attacks in organizations reveals that attackers are making use of telcos and hosting providers to conduct their operations.

 

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Elizabeth Edozie Technology Journalist @Technology Times 08077671659 elizabeth.edozie@technologytimes.ng

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