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Retail Sector Experiences 111% Increase in Ransomware Attacks

/ 1 min read

Retail trade sector faces a 111% surge in ransomware attacks. A recent threat landscape report highlights the increasing cyber threats in the retail industry, with spearphishing identified as the top initial access technique, accounting for 16.7% of incidents. The report notes a significant rise in impersonating domains, which have increased by 14.4%, and emphasizes the importance of AI and automation in reducing the mean time to contain threats from nearly 11 hours to just 3 minutes. Ransomware attacks have surged, with 379 companies affected, driven by the sector’s extensive data stores and online presence. The report warns of future risks, including e-commerce platform exploitation and supply-chain attacks, urging retailers to adopt proactive security measures to safeguard their operations and customer data.