The truth is, small retail businesses are not only just as likely to fall victim to a data breach, in many ways they may actually be more of a target.

A smaller budget to spend on high-tech security and a no IT department to handle issues as they arise can be enticing to hackers. Multipurpose computers on a single network, meaning that every device can access all of the same information regardless of the employee’s job duties, can leave the door wide open for a virus that roots around the entire network.

Whether you just opened or you have owned a Small Mom And Pop store for 20 years, you need to pay close attention to how you handle sensitive customer information.

How is my small retail business vulnerable to cyber-attacks?

Attackers often target point-of-sale (POS) systems, installing malware that steals credit card information when the POS system is used. You face threats from human error, hard drive malfunction, and cyberattackers using malware, phishing expeditions, and data theft to steal treasure-troves of client and financial information. Your POS communicates with clients loyalty accounts and passes everything from personal information to bank account information via electronic methods. Your customers information must be protected in transit and in your possession.

Curbside Delivery

As the COVID-19 viral pandemic continues to cause major disruptions throughout the global economy, countless retailers across the U.S. are shifting to a delivery or curbside pickup business model in order to survive, often with a heavy reliance on online orders and digital payment.

Criminal actors are taking advantage of this spike in online commerce: 2021 saw a 600 percent increase in email phishing scams, whereby criminals send employees official-looking emails in an attempt to obtain accounts passwords, sensitive data or access to internal systems.

What are the consequences of a data breach?

  • Financial Loss (If you have collected personal information on 1000 clients and you have a breach, you are liable to provide them with identity theft insurance that costs $200 per person. That is $200,000 and will force most small businesses into bankruptcy)

  • Reputational Damage

  • Operational Downtime

  • Legal Action

  • Loss of Sensitive Data

  • 60% chance of going out of business