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Retail sector vulnerable to cyber attacks over Black Friday weekend, says report

Published: 14:50 11 Nov 2022 GMT

Cybersecurity

Britain's retail sector is one of the worst equipped to deal with cyber attacks ahead of the busy Black Friday and Christmas period, according to security advisor Coalfire.

Some 64% of retail brands have at least one significant cybersecurity weakness that could be easily exploited by a hacker, according to Coalfire’s data.

Coalfire conducted 1,500 penetration tests on 564 businesses, it said, simulating real-world cyberattacks, adding that retailers were more likely to have significant vulnerabilities than other organisations.

Financial services were second, with 61% having at least one significant vulnerability, followed by healthcare with 57% and tech with 56%.

Cyber-attacks have been on the rise this year, boosting business for cybersecurity firms such as Darktrace and Crossword Cybersecurity.

Darktrace upped its profit guidance as the fear of a cyberwar in Ukraine increased demand for defence services, while Crossword reported a 85% increase in sales due to the “rising number” of attacks.

The impact of a cyber-attack on a retail business has already been seen, when TheWorks was forced to close its stores as a result of a hack earlier this year.

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