What to Watch: Fighting Cybercrime Will Be More of a Priority

Retail security breaches, ransomware, social media impersonators — cybercrime is evident in many areas of the fashion industry. In its annual Mobile Security Index report, Verizon cited ransomware as the leading cybersecurity threat. While 85 percent of companies said they need to take mobile security seriously, half of the companies polled acknowledged that saving money and “cutting corners” trumped investments to protect mobile data and boost security. Researchers at Verizon said the total number of cyber compromises rose to 33 percent in 2018 from 27 percent in the prior year. For retailers specifically, 31 percent of retail organizations “suffered a mobile device compromise last year.” And 54 percent of the incidents were considered major while 27 percent “had lasting repercussions,” Verizon noted in the report. As of last week, 22 municipal governments in Texas had been stricken with ransomware — malicious software that blocks access to a computer system or data, usually by encrypting it, until the victim pays a fee to the attacker. Meanwhile, two school systems on Long Island in New York also were victims of ransomware attacks this week. Meanwhile, retailers ranging from Target Inc. to Home Depot have seen their systems hacked in recent years, while last month Capital One bank revealed

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