With more than 174 million Americans shopping over the Thanksgiving holiday weekend, it’s looking to be a busy holiday season for retailers this year. As shoppers continue hunting for the perfect gift over the next couple weeks, it’s important to remember that cyber criminals will likely be on the hunt as well. How prepared are retailers to deal with an attack?
In an effort to answer that question, Tripwire surveyed IT security professionals working in retail organisations about their experiences and attitudes towards factors affecting IT security. The results found that a large majority are not fully prepared for data breaches this holiday season.
Of the respondents, only 28% of respondents said they have a fully tested plan in place in the event of a security breach. 21% said their organisation doesn’t have a plan at all, and the same proportion of respondents said they didn’t have the means to notify customers of a data breach within 72 hours, a requirement specified by the General Data Protection Regulation (GDPR).
“Considering the amount of high-profile data breaches that have occurred recently, plus the continued discussion around GDPR, it is surprising and concerning that many retailers do not have a tested plan in the event of a security breach,” said Tim Erlin, vice president of product management and strategy at Tripwire. “It’s encouraging that most respondents think they can meet the 72-hour notification window as set out in the upcoming GDPR, but if they haven’t tested their plans, I don’t know how confident they should be in that assumption.”
Only a small minority of the retail industry felt fully secure in their incident response capabilities. 23% of respondents said they were “fully prepared” to absorb potential financial penalties. Even fewer professionals (15%) said they were fully prepared to manage customer and press communications following an incident.
Not all the survey’s findings were discouraging, however. The results did provide some hope that the industry is moving in the right direction. More than half of respondents (57%) said that their organisation’s ability to detect and respond to a security breach has improved in the past year and a half. With the holiday season in full swing, organisations should make sure they have proper security safeguards in place.
“It’s really critical that organisations have a good view of what’s on their network at all times, that they harden their systems with secure configuration and vulnerability management, and that they are able to continuously monitor for change and are alerted to any drift outside the established security and compliance policies,” said Erlin.
There are a number of effective and established security control frameworks available to guide organisations, such as the CIS Critical Security Controls. Implementing even the most basic security controls can go a long way in improving an organisation’s security posture.
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The GSMA announced that mobile operators deploying new Mobile IoT networks will be able to benefit from the European connected energy market estimated to be worth US$26 billion(€21.99 billion) by 2026. Data shared by analyst house Machina Research highlights the huge growth opportunity in the emerging connected energy market that could connect approximately 158 million new smart meters on LPWA networks across Europe. The total number of connections in Europe could be further increased if the 60 million cellular connections are also included with LPWA.
“The Internet of Things is fundamentally disrupting the smart utility market by providing ubiquitous connectivity and real-time, actionable data. Mobile IoT networks will take this further by offering energy providers a cost-effective solution to connect millions of smart meters,” said Alex Sinclair, chief technology officer, GSMA.
“There is a real sense of momentum behind the roll-out of Mobile IoT networks with multiple global launches, however, there is still a huge runway for growth. We encourage operators to act now to capitalise on this clear market opportunity and further accelerate the development of the IoT.”
The current connected energy market, which includes applications related to the generation and transportation of energy, microgeneration, smart grid and distribution monitoring and smart metering, is worth an estimated US$11.7 billion(€9.90 billion). The European connected energy market represents approximately 21% of all global revenues, with APAC claiming 54% and the Americas 21%.
The European Commission recently published a proposal indicating that approximately 200 million electricity smart meters and 45 million gas meters will be rolled out by 2020. The Commission also estimates that by 2020, approximately 72% of Europeans customers will have a smart meter for electricity and about 40% for gas.
“In the coming years we will see an important change in the way natural gas networks operate. The need for more efficient operations, improved safety and better quality of service will be paramount and we can do this through the roll-out of smart gas metering systems. We are moving towards the digitalisation of gas networks, a transformation from “pipe-centric” systems to “data-centric” systems.
To make this happen, reliable communication means are a must and the arrival of NB-IoT and LTE-M represents an acceleration of this evolution. These new technologies offer everything necessary, such as long battery life, penetration and data security, as well as licensed spectrum,” commented Gianfranco De Feo, executive director, Shanghai Fiorentini Ltd.
Mobile IoT networks supporting growth of connected energy
Mobile IoT networks are designed to support mass-market IoT applications across a wide variety of use cases including connected energy solutions such as water and gas metering, smart grids, electricity and energy monitoring. They support IoT applications that are low-cost, use low data rates, require long battery lives and often operate in remote and hard to reach locations making them ideal for the connected energy sector.
Mobile networks are already supporting the smart electric metering market, but now other sectors such as water and gas metering are turning their attention to the benefits of adopting NB-IoT and LTE-M networks due to low power and better […]
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