Stay Ahead of Hackers with Strong Authentication and Log Analysis
- Hackers increasingly targeting Point of Sale (POS) systems
- 21% increase in ATM and POS device compromises in 2017
- Importance of proper identity management and two-factor authentication
- Internet connectivity exposes POS systems to remote exploitation
- Staying up-to-date with software patches and updates
- Log analysis for detecting potential threats
- EU’s General Data Protection Regulation imposes stricter security measures
Hackers have increasingly targeted Point of Sale (POS) systems due to their vulnerabilities, leading to data breaches and identity fraud. With a 21% increase in ATM and POS device compromises in 2017, retailers must prioritize security measures such as proper identity management and two-factor authentication. Internet connectivity exposes these systems, making them susceptible to remote exploitation. Regular software updates and strong authentication methods like passcodes or biometrics can help prevent unauthorized access. Log analysis is crucial for detecting potential threats, as the EU’s General Data Protection Regulation imposes stricter security measures with hefty fines for non-compliance.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the security risks associated with POS devices and offers suggestions on how to improve their security. It discusses the increase in attacks, the importance of identity management and authentication, the need for regular updates and strong authentication measures, and the consequences of not adhering to new data protection laws like GDPR. However, it lacks some specific examples or expert opinions to support its claims.
Noise Level: 7
Noise Justification: The article provides some useful information about POS security risks and suggests some measures to improve it, but it contains repetitive information and could benefit from more in-depth analysis and evidence. It also lacks a clear conclusion or call to action for retailers.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry and banking sector
Financial Rating Justification: The article discusses security risks associated with Point of Sale (POS) devices, which are used in retail transactions. It mentions data breaches that can lead to identity fraud and the potential financial consequences for retailers under the EU’s General Data Protection Regulation. This has an impact on both the retail industry and banking sector as it involves customer payment card data.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
www.retailsector.co.uk