Bad Bots Butchering

The technology of customer service has a dark side. According to Es, Rami the broaway hit Hamilton was not really that successful, but he take credits of activist creator and the play with the help to make the consumers and retailers aware of bots can do.

Not a long after, Miranda wrote an impassioned about anti-bot op ed in NYT. It was written that they took an action about bots to take the best seats within a time they going to sale. When the time the real consumer will take place, it will be gobbled by the bots.

The Worst Cyber Crime in UK History

After this week’s cyber scandal, Tesco Bank made payments of £2.5 million to the customers.

Today, the supermarket retailer announced that the full service had resumed their financial arm after 9000 people lost their money from the Tesco Bank accounts due to the cyber-crime incident.

Reportedly, GCHQ investigates the incident which has been considered as the worst cyber-crime attack on a British Bank, over the fear that it may have been state-sponsored.

Primarily, 20,000 upwards thought to be the number of defrauded accounts, but later it was revised to 9000.

According to Benny Higgins the Tesco Bank Chief Executive: “We’ve now refunded all customer accounts affected by fraud and lifted the suspension of online debit transactions so that customers can use their accounts as normal.

“We’d also like to reassure our customers that none of their personal data has been compromised.” He added.

Andrea Bailey the chief executive of the Financial Conduct Authority, who is investigating the incident told the MPs:  “There are elements of this, as far as we can tell at the moment, that look unprecedented.

“The heart of concern is what is the root cause of this and what it tells us about the broader threats.”

1M Cyber Attacks A Day

This festive season, retailers from UK are expected to be hit with one million cyber fraud per day.

A fraud prevention firm, ThreatMetrix, warned the retailers that the new research data suggest that 50 million global will be having online fraud attacks expected to occur during Black Friday and Cyber Monday shopping week.

Online sales activity is so remarkable this year. IT teams will be busier than usual and fraudsters are expected to take advantage, hoping to slip through the systems unnoticed due to the high volume of transactions.

Are Your Details Safe? In Retail Cyber Security

Cybercrime never been considered as a significant threat in retail. On the first six months of 2016 cyber-attacks increased by 46%. Retail giants like Tesco and Deliveroo tried to stop the attack on exposing the customer data.

During Christmas period, retailers expected to receive one million cyber-attacks per day and 50 million global online fraud attacks especially on Black Friday and Cyber Monday shopping week.

As online sales continue to increase, it is expected to rise next year overall sales to 21%, it also means more opportunities are open for hackers to exploit.

G.J. Schenck Mobile Security Lookout’s Vice President International said that, retail is data rich and is where high volumes of transactions are done meaning there’s lots of money in it.

Retailers literally have consumers coming to them daily to spend money, and in every transaction, there is subsequent swapping of valuable information during the process. This makes retailers a prime target for hackers.

Retail is an industry where their relationship depends to its customers.The focus of online platforms is on ease of use, making transactions more streamlined to prevent customers leaving orders, it means storing masses of customer data.