Practicing cyber resiliency in the digital age

Retail’s digital transformation has ushered in a new era of data, which allows retailers to work smarter, innovate faster and serve customers better, but it has also introduced new risks. PwC U.S. Cybersecurity and Privacy Leader Sean Joyce says when it comes to cybersecurity, being resilient — the ability to adapt and recover critical business operations after a cybersecurity threat or breach has been identified — is key.  

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The cybersecurity landscape evolves constantly, with hackers developing new technology to breach systems every day, so security efforts also need to adapt fast. Cyber attacks are also not geographically contained and may cross international borders. As businesses adapt, adversaries do too. “I don’t know if anyone is doing a good job keeping up,” Joyce says.

That’s why resiliency is so important. To improve cyber resiliency, retailers must constantly evaluate their business operations, understand the risk of a breach and continually update defenses while ensuring “the right people are involved in the practice sessions,” Joyce says. That includes not only the chief information security officer, but the CEO and chief operating officer as well. Small and medium-sized companies that have fewer internal resources to counter cyber threats can take advantage of tools from groups like the Global Cyber Alliance.

Learn more

Connect with other retail CISOs at the NRF Cybersecurity Workshop at NRF PROTECT 2019 powered by PwC and The Aspen Institute.

Listen to the full episode to learn more about the cyber threats retailers need to be aware of, what it takes to increase cyber resiliency and how consumers can protect themselves.

NRF PROTECT 2019, retail’s premier loss prevention and cyber risk event, dives into similar topics. Check out the full list of sessions for the event, June 11-13, in Anaheim, Calif. and plan to attend the new cybersecurity workshop.

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