With over 7 billion credit cards in circulation worldwide, fraud in the retail sector has been on the rise for years. Cybercriminals target Point of Sale (PoS) terminals and hack networks of retailers to steal millions of identity and credit card records — as well as other data and merchandise.
Australia’s big name retailers are jumping on the digital bandwagon in a big way. Traditionally, bricks and mortar players were scared of the big bad internet eating away at their profits. But this is changing. Most, if not all, major players have now adopted some kind of digital or ecommerce strategy.