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What is a threat?

What is a threat?

Cash-flow problem, loss of customer loyalty, reputational damage - these are just some of the potential effects of a cyber security breach. Additionally, the UK is one of the world's biggest users of e-commerce.

It’s vital that all independent retailers implement effective cyber security and cyber-enabled fraud prevention.

  • Intelligence suggest that fraudsters target smaller retailers who don’t have adequate security measures in place.
  • Those in the retail industry are leaving their data exposed with 1 in 7 not taking steps to protect their data.1
  • 71% of retailers put the most value on their customers, highlighting retailer’s duty to protect customer data.2
  • In 2016 remote purchase fraud increased by 9% to £432.3 million.3
  • 95% of businesses consider cyber security to be very or quite important to their business, and yet 45% do not have a formal cyber security strategy.4

 

  1. Cyber Aware/KPMG Small Business Reputation & The Cyber Risk Report from 2016
  2. Cyber Aware/KPMG Small Business Reputation & The Cyber Risk Report from 2016
  3. Financial Fraud Action UK Annual Fraud Figures 2016
  4. Barclays IoD Report March 2017

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