Strong cyber security means strong commercial competitiveness. Consumers spend approximately one in four pounds online and online retail sales are increasing by around 10-15 per cent annually.
At the same time, the BRC Annual Retail Crime Survey 2016 shows that an estimated 53 per cent of reported fraud in the retail industry is cyber-enabled, which represents a total direct cost of around £100 million.
In the UK’s digitised economy, the most successful businesses are those that view information security as an enabler for growth, not a financial burden. Cyber security and e-commerce therefore go hand in hand in a digital age. Retailers who prioritise the people, process and technology aspects of cyber security whilst maximising the opportunities of innovation will be the market leaders of the future.
THE BRC CYBER SECURITY TOOLKIT
The BRC’s cyber security ‘toolkit’ provides retail businesses of all sizes with a practical, step-by-step guide to prevent and manage cyber security threats and protect the customers they serve. The toolkit aims to provide retailers with practical guidance to ensure they have the appropriate preventative and response measures in place to reduce their vulnerabilities and to protect both themselves and their customers.
HUGO ROSEMONT, POLICY ADVISER- CRIME, SECURITY RISK INTRODUCES THE TOOLKIT:
Means of online fraud and cyber-attack are extremely varied and, to help mitigate against these growing threats, the Government’s 2015 Spending Review announced that £1.9bn would be invested in UK cyber security capabilities.
SARAH NEWTON MP LAUNCHES THE TOOLKIT:
To coincide with the launch of the Cyber Security Toolkit, the BRC worked in cooperation with the UK Government's cyber security awareness and behaviour change campaign, Cyber Aware, to develop a bespoke leaflet for small and medium-sized businesses operating in the UK retail industry. The leaflet outlines some simple steps that SMEs can take to protect themselves against the threat. Read here
WE ARE SEEKING TO INFLUENCE THE GOVERNMENT TO:
- Recognise the retail industry as an industry of strategic importance in security terms
- Simplify the UK’s complex, often overlapping cyber security policy structures
- Develop a more coordinated approach to the management of major cyber security incidents
OUR OTHER RECENT WORK IN THIS SPACE HAS INCLUDED:
- Informing the scope, structure and development of the UK’s National Cyber Security Centre, launched in October 2016, ensuring maximum cooperation and additional support for the industry
- Working with Members to develop practical, step-by-step guidance on how to prevent, prepare for, and respond to all forms of cyber-crime, including the most serious attacks such as data breaches
- Providing members with the opportunity to provide feedback to the Police on the effectiveness of the UK’s ‘Action Fraud’ national fraud reporting system