SolarWinds Hack 'Bad News for Retailers' According to Chargeback Gurus
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Data breaches cost companies millions of dollars a year, with an average cost of $8.19M per breach per company. As security measures get stronger, hackers are getting smarter and attacking associated services from cloud service and managed service providers to get even more data and more victims. We believe that this will be equally as true in the wake of the recent SolarWinds hack. With the COVID-19 pandemic still going strong at the end of 2020, retailers in various industries are already feeling the pressure of increasing eCommerce transactions and friendly fraud incidents. With the breaking news of the SolarWinds security breach, these retailers are now facing a potential “second wave” of chargebacks.