When unpacking the details of these breaches, results revealed: 78% were breached via credential misuse or authentication vulnerabilitiesPhishing as a means for credential misuse, continues to dominate as the leading attack vector with 35% falling victim, credential stuffing (26%) and identity impersonation (27%) remain in the top fiveA third (32%) of retail organizations experienced ransomware41% did change their authentication methods following a breach Lost Customers, Lost Revenue, The High Price of Insecurity The constant barrage of cyberattacks is not only costly but also erodes consumer trust and jeopardizes bottom line performance.
New Report Reveals: Identity Fraud and Authentication Breaches Costing Retailers Millions in Lost Revenue, Recovery Expenses, and Damaged ReputationNEW YORK, Nov.25, 2024 (GLOBE NEWSWIRE) -- With the 2024 holiday shopping season rapidly approaching, HYPR, the Identity Assurance company, is cautioning retailers about the devastating impact of identity-related breaches on holiday-sales, customer loyalty and long-term financial stability.
Based on a survey of nearly 400 IT security decision-makers and retail customers, HYPR’s latest spotlight report, 'The Unexpected Impact of Identity Security on Shopping Habits,' exposes a concerning gap in authentication practices and underscores the heightened awareness of security risks among today's consumers.
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