Retail & Hospitality ISAC Report reveals top cyber threats facing retail and hospitality
VIENNA, Va., May 29, 2024 -- Cybercriminals continue to target the retail, hospitality, and travel sectors with increasingly sophisticated attacks, according to a new report from the Retail & Hospitality Information Sharing and Analysis Center (RH-ISAC). Committed to helping its members stay one step ahead, the organization released its annual industry trend report, shedding light on the most pressing cybersecurity challenges facing these industries.
The report, which analyzes RH-ISAC member data alongside findings from the 2024 Verizon Data Breach Investigation Report, reveals that credential theft, ransomware, and phishing continue to be the highest threats plaguing these industries, with threat actors increasingly adopting advanced technologies like artificial intelligence to intensify and strengthen their attacks.
"Our latest industry report underscores the ever-evolving challenges facing retail and hospitality organizations when it comes to cybersecurity," said Suzie Squier, president of RH-ISAC. "By sharing intelligence and collaborating as a community, our members are better positioned to defend against these persistent threats."
The report highlights several key trends:
- 91% of industries saw ransomware as one of the top three most prevalent threats
- 50% of social engineering attempts involved pretexting to pressure victims into divulging sensitive information
- 83% of breaches originated from external factors, with 95% financially motivated
- Vulnerability exploitation, especially in third-party suppliers, increased drastically compared to the previous year
The full report, including detailed metrics for specific retail and hospitality subsectors, is available here. Learn more about RH-ISAC memberships at rhisac.org.
