Retail sector second most threatened by hackers; financial services top the list

Data privacy protection has been becoming a significant challenge. Most of the sectors have been at the vulnerable risk of data fraud. Retail is the second most threatened segment by cyber attacks in the country after financial services.
“Over 92 per cent of the apps we test are vulnerable with 2,30,000 new malware samples generated per day with an estimated cost $100 billion,” said, Retail and Consumer Goods Practice Leader at PWC India, Anurag Mathur at the India Retail Forum 2016.
Amid growing aggression by online rivals, most retailers now have an Omnichannel strategy to push products.
According to CEO, Walmart India, Krish Iyer, “Digital technology is changing the consumer and blurring boundaries in retail stores. In the US, 49 per cent of sales in 2014 were digitally influenced before the consumer reached the store and this has now gone to 64 per cent in 2015.”