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IT For CEOs & CFOs
News & Views
Retailers face security risk
With Amazon Prime Day upon us, we ask Fabian Libeau, EMEA VP at RiskIQ (www.riskiq.com) for his thoughts on why the retail sector must address cybersecurity.
“With 10.4 billon US dollars spent worldwide during last year’s Amazon Prime Day, it now represents a significant date in the UK retail calendar. This is especially true as the pandemic continues to skew commercial activity into the digital realm. Unfortunately, wherever there are vast sums of money being spent, there will be criminals waiting to take advantage. Indeed, cybercriminals have spent lockdown honing their craft, developing widespread phishing and card skimming campaigns to target consumers through social engineering and imitation tactics.”
“Consumers participating in Amazon Prime Day would do well to remember the cybersecurity essentials, and businesses selling on Amazon (including Amazon itself) have a responsibility to remind shoppers to be aware of their online shopping safety. For example, prospective customers should always check website addresses, especially after clicking on a product linked through social media such as Facebook or Twitter, to see if they’re actually at the official Amazon page. Customers should also be wary of entering any credit card information. Amazon stores your card in your account, so you do not need to enter it into a web form where a card skimmer might be lurking. Finally, it is vital that customers keep an eye on their credit card activity and do not only watch for large transactions, as many thieves run small charges to test the waters. So, any unrecognized activity could be an indication a card has been skimmed and could be used for larger purchases later on.
“If customers keep this information in mind when participating in Amazon Prime Day, they will stand a better chance of avoiding an unwanted encounter with a cybercriminal. For businesses, sales increases will be nullified in the reputational fallout of a successful, widespread cybercriminal campaign, so vigilance and preparation are paramount. “
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