October 30, 2024 – Trustwave, a leading cybersecurity and managed security services provider, has released a series of reports detailing the threats facing the retail sector, marking the second year of its ongoing research into these critical security issues. 

In its annual research, Trustwave SpiderLabs highlights the unique factors at play in retail, significant trends currently affecting the industry, including ransomware, shifts in compliance, and the rise of e-commerce, and provides an overview of threat actor techniques by attack stage.  

Additionally, Trustwave SpiderLabs has produced two complementary in-depth write-ups on pressing threats in the sector: e-commerce threats and risks, and fraud targeting retailers. Trustwave SpiderLabs’ analysis delves into why these threats are particularly pervasive in the retail vertical, providing retailers with a clearer understanding of the landscape and effective strategies to mitigate risks. 

Kory Daniels, Chief Information Security Officer, Trustwave, said “As we enter the holiday shopping season, the rise in e-commerce threats and the alarming trends in cyber fraud underscore the need for heightened vigilance in protecting consumer data.
“A single incident can undermine customer trust and lead to long-term financial impacts, making robust cybersecurity measures not just a necessity but a critical component of sustainable business practices in today’s retail landscape. By prioritising security, we not only protect our customers but also foster trust, ensuring a secure and enjoyable experience this holiday season.”  

Cybersecurity in the retail sector is particularly challenging due to the increasing complexity of IT environments, which often encompass in-store systems, online platforms, and supply chain networks. Retailers also face a unique threat landscape due to seasonal fluctuations, third-party dependencies, physical security risks, and franchise models. 

Craig Searle, Global Director – Cyber Advisory, Trustwave, said, “While the global retail landscape is increasingly homogenised due to the influence of major online retailers like Amazon and Temu, there are still unique characteristics within the Australian market. One notable distinction is the classification of major grocery chains and some of their suppliers as ’SOCI-obliged’.
“This designation imposes enhanced cybersecurity obligations and reporting requirements mandated by the Australian Federal Government in the event of a breach under the Security of Critical Infrastructure Act 2018 (SOCI). This regulatory framework highlights a heightened focus on cybersecurity within the Australian retail sector, setting it apart from other countries where such obligations may not be as stringent.” 

Trustwave SpiderLabs’ 2024 research series on the retail vertical includes:  

• 2024 Trustwave Risk Radar Report: Retail Sector 
• 2024 Retail Deep Dive: Rise of E-Commerce Threats 
• 2024 Retail Deep Dive: Fraud Targeting Retailers 

Key findings from Trustwave SpiderLabs’ retail research series include: 

• 58 per cent of attacks originated from phishing 
• 47 per cent of stolen user sessions leverage Amazon domains 
• 92 per cent of credential access techniques were brute-force attempts 
• 15 per cent of ransomware attacks were conducted by Play and LockBit 
• 62 per cent of ransomware attacks were in the US 
• 16 per cent of ransomware attacks targeted food and beverage retailers 

In 2023, Trustwave released its first Retail Threat Intelligence Briefing that analysed the attack flow specific to the retail sector, offering insight on specific threat actors, actionable intelligence, and recommended mitigations for each stage. 

To access this year’s research, please click here for the full retail threat research series.  

About Trustwave

Trustwave is a globally recognised cybersecurity leader that reduces cyber risk and fortifies organisations against disruptive and damaging cyber threats. 

Trustwave’s comprehensive offensive and defensive cybersecurity portfolio detects what others cannot, responds with greater speed and effectiveness, optimises its client’s cyber investment, and improves security resilience. Trusted by thousands of organisations worldwide, Trustwave leverages its world-class team of security consultants, threat hunters, and researchers, and its market-leading security operations platform to decrease the likelihood of attacks and minimise potential impact. 

Trustwave is an analyst-recognised leader in managed detection and response (MDR), managed security services (MSS), cyber advisory, penetration testing, database security, and email security. The elite Trustwave SpiderLabs team provides industry-defining threat research, intelligence, and threat hunting, all of which are infused into Trustwave services and products to fortify cyber resilience in the age of inevitable cyber-attacks. 

For more information about Trustwave, please visit: https://www.trustwave.com/en-us/.