POS System Security Risks You Need to Be Aware Of

Every business that deals in the exchange of money for products or services need a point-of-sale (POS) system. Payments, inventory management, order recording, and connection to other point-of-sale programs can all be handled by modern POS security devices. However, the numerous data leaks and security issues related to point-of-sale systems which have happened in recent years demonstrate that these systems are weak.

Retailers are no exception when it comes to being concerned about cyber security. The amount of data being stored and transferred between cloud systems is expanding at an exponential rate. The point of sale (POS) system is among the most sensitive areas of a company’s data security strategy. 

What Are The POS System Security Risks You Need To Be Aware Of?

  1. Deficiencies in the Network and Software

The most common POS issues are caused by a network that isn’t protected against intrusion. When hackers gain access to these vulnerable installations, they are able to steal vital information such as client credit card details and corporate account data. 

In the event that it is possible, keep your POS technology on a different passcode network. You should also reset your password at least once every six months to lessen the possibility of being compromised.

It is also critical to keep your software updated. Patches and upgrades to operating systems are constantly being released by software vendors. By staying current on the latest safety precautions, you may enjoy the peace of mind that you deserve at any time of day.

  1. Phishing

Phishing is a relatively recent hacking tactic in which hackers attempt to deceive employees into clicking on harmful links in emails sent to them. Hackers can acquire entry to both your systems and your data if you click on a link in an email. 

To avoid this, instruct employees not to read any emails or links that are sent to them which were not expected to be opened by them. Install an updated antivirus system that can detect and block this form of infection on its own initiative. 

POS device education and monitoring can prevent you from getting this problem altogether by making sure that your staff never uses company-owned devices to search their email address or browse the web.

  1. Business Loss Due to Inadequate POS Application Availability

In addition to protecting their business and consumer data, retailers also expect their point of sale software to be secure from cyberattacks and technical disruptions. In order to keep their point of sale systems safe and secure, retailers are looking for ways to thwart assaults before they can occur.

There must be effective security surveillance and incident handling service in the perfect point-of-sales application in order for this to happen. POS application-related actions should be monitored, detected, and flagged as threats, and real-time answers should be provided to any difficulties, with this service alerting IT professionals (either internally or outside) when there is a breach.

  1. Skimming

Almost everyone has heard of the credit card skimmers that have been installed on petrol pumps, and now retail establishments are also being targeted by these thieves. To gain access to client credit card information, such small devices are hooked to the POS system hardware in a discrete manner. 

Even though skimmers aren’t common in many retail settings, you should be aware of the possibility. For this reason, it’s critical that you keep a close eye on your hardware and alert the authorities if you notice anything unusual.

Cybercrime is on the rise, becoming more complex and dangerous as time goes on. While it’s awful, it’s a reality that every business must deal with. Preventative actions and vigilance go a long way toward keeping your POS system and data safe.

How To Secure Your POS System?

  1. Configure Your System in Accordance With Best Practices

Everyone in the retail industry, no matter how small or big, should have access to a reliable IT service provider who can properly install antivirus software and configure the system in accordance with industry best practices. Make sure that your information technology systems are checked on a regular basis by an expert. It is not sufficient to just install security software from the Internet.

  1. Staff Awareness and Understanding

To a significant extent, raising awareness among your employees about the hazards of ransomware and teaching them how to recognize threats would help to reduce the threat of ransomware.

  1. Users Should Be Secured

User security should be systemized. Establish methods and procedures for securing your POS systems in the event that a member of your staff leaves. No one can be trusted. As soon as a person leaves your organization, for whatever reason, make sure that they can no longer access any of your systems.

Bottom Line

Although your network is secured, the security of your devices is equally important. Password-protecting your laptops and tablets is an important first step in preventing identity theft. 

When employees are walking away from the POS system, train them to always log out but never disclose passwords or other sensitive information. Select technological products that provide built-in security features.

It is also possible to adopt other straightforward methods of enhancing the security of POS systems. The importance of modifying manufacturer’s passwords on these devices, for instance, is often overlooked by the general public. Malicious hackers, on the other hand, can gain access to lists of default passwords from the systems of such manufacturers.

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