Last Sunday, 13 August 2023, a UK-based Retail Management and EPOS Solutions provider called Swan Retail observed ‘technical difficulties,’ in several back-office systems causing ‘significant’ service disruptions. According to a statement from the company’s representative, its systems were targeted by an unauthorized third party to which the company responded quickly by alerting its internal IT team, affiliated retailers, and law enforcement authorities. However, around 300 retailers have been affected by this attack. The company did not disclose what kind of attack took place that resulted in such an extensive outage of services.
For your information, Swan Retail is part of Swan Group, acquired by ClearCourse in November 2020. The company supplies stock control and account systems, payment gateways, online ordering, and other IT solutions to retailers all across the UK. ClearCourse is a conglomerate of numerous tech brands offering integrated software solutions and payment platforms.[1]
The cyberattack on Swan Retail has impacted a wide range of independent retailers from almost all sectors, such as fashion, homewares, furniture, departmental stores, sports/pets/outdoor equipment dealers, stadiums, and garden centers.
Many vendors failed to bring in new collections and suffered heavy financial losses. Their services have remained suspended since the 13th with no clarity over when the services will be back online. The company claims that the issue will be resolved soon. The incident is under investigation by the UK National Cyber Security Center (NCSC), Action Fraud, and other agencies.
About this incident, the Principal Consultant at Adarma said that the industry is experiencing a systematic wave of cyberattacks, to address which well-coordinated efforts are mandatory. “Businesses can no longer operate in isolation. Cyber risks are systemic and can extend beyond a business’s perimeter, allowing adversaries to infiltrate partnering organizations. Addressing this challenge requires a coordinated effort,” he said. Adarma warned that “Incidents like this are rising in frequency, highlighting the importance of securing the digital supply chain. Employing an ongoing strategy of discovery, assessment, and validation is essential to ensure organizations maintain constant vigilance and uphold their risk tolerance thresholds within acceptable boundaries.” Through a comprehensive approach encompassing risk mitigation, resource prioritization, and continuous surveillance, enterprises can reinforce their supply chains and protect their vital assets in response to evolving threats,” he advised.
This article is presented at no charge for educational and informational purposes only.
Red Sky Alliance is a Cyber Threat Analysis and Intelligence Service organization. For questions, comments, or assistance, please get in touch with the office directly at 1-844-492-7225, or feedback@redskyalliance.com
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[1] https://www.hackread.com/cyberattack-uk-swan-retail-affects-retailers/
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