Digital transformation and smart technologies have done their share to enhance business experiences, but not everyone utilises cyberspace for bona fide causes. As the digital ecosystem keeps expanding, branching into new dimensions like Metaverse and ChatGPT,users are increasingly susceptible to cyberattacks. Thatis, unless the correctsecurity practices are employed.
The hospitality sectoris one of the most targeted industries in cyberspace. In 2021 alone, the estimated cost of a data breach in the global hospitality sector was $3.03million, making cybersecurity an inevitable industry concern.
Understanding the threat landscape
According to reports, five industries account for over 60%of all cyberattacks. The travel and hospitality sector is one of them, with 9%of attack targeting.
The hospitality industry is 19%more likely than other businesses to offer online payment options and 11% morelikely to use network-connected devices. This combined exposure makes them anentry point to multiple types of security attacks:
Data breaches and theft:In data breaches, attack vectors often target sensitive information storedwithin business databases, such as credit card details or passport information,for financial gain or identity theft.
Ransomware attacks:Malicious software can lock business systems and demand a ransom for theirrelease. This disrupts operations and can lead to significant financial losses.
Phishing and socialengineering: Staff and guests may fall victim to deceptive emails ormessages, unwittingly divulging confidential information or installing malware.
Internet of Things (IoT)vulnerabilities: Smart devices within hotels or spas, such as thermostatsor door locks, can be exploited by cybercriminals to gain unauthorised accessor disrupt operations.
Third-party vendor risks:hospitalitybusinesses rely on a network of vendors for various services. A breach in avendor's system can have a cascading effect on the business’ security.
The responsibility of industrystakeholders
Technology is anessential infrastructure for modern hospitality businesses, and completelyforgoing that element is not viable. However, businesses can ensure that theirdevices and solution providers are operating safely in the digital ecosystem.
Robust encryption and secure communication
As hospitality businesses invest more and more in smart software, seeking solutions with advanced cybersecurity protocols is essential. For example, strong encryption protocols can safeguard guest data during transmission, reducing the risk of interception by malicious actors. In addition to that, it is also essential that the solutions are compliant with international, local and regional cybersecurity standards, such as the GDPRP, A-DSS or ISO certifications. Software and software providers with these certifications comply with the latest cybersecurity practices.
Access control and authentication
Multi-factor authentication (MFA) and stringent access controls ensure that only authorised personnel can access critical systems, minimizing the threat of unauthorized entry. Some of the control mechanisms for MFA include biometric authentication methods such as fingerprint or facial recognition and Role-Based Access Control(RBAC) that assigns specific roles and permissions to staff members based on their job responsibilities. Another option is guest access control mechanisms which separate guest and staff networks, ensuring guests only have access nonpublic services while keeping internal systems isolated.
Secure payment processing
As businesses offer contactless and mobile-based payment options, these gateways must be secured against outside threats. Today, most integrated payment gateways in smart software solutions employ P2PE (Point to Point) encryption to safeguard financial transactions, which thwarts attempts at unauthorized access. Businesses canalso deploy several payment safety methods, such as conducting regular payment audits that comply with the Card Industry Data Security Standard (PCI DSS).Further, hospitality businesses can stay proactive by investing in finance processing software that complies with the latest security standards to ensure the integrity of both consumer and business data.
Employee training and awareness
Unintentional breaches account for the majority of internal data leakage in an organization. Often, unintentional breaches occur when the employees are unaware of data protectionprotocols or have no adequate training on responding to a breach. Companies can initiate several training programs to mitigate such damages, includingsimulated phishing exercises, incident response training and encouraging employees to report security concerns or incidents. When investing in newtechnology, opting for solution providers who provide adequate training is alsobeneficial in preparing employees to navigate cyberspace. Regular security audits and updates
Smart software providers conduct regular security audits and swiftly address vulnerabilities through timely updates, fortifying defenses against emerging threats. To take these a notch further, businesses can employ automated tools to identify andapply software updates and patches promptly, reducing the vulnerability window to cyberattacks. In addition, businesses can incorporate threat intelligenceinto their security systems to proactively identify emerging threats and vulnerabilities.
Fostering a culture of digital security
To foster a robust culture of cybersecurity, it is imperative that executive leadership takes inactive role in and demonstrates commitment to cybersecurity initiatives. Their involvement sets the tone for the organization, emphasizing the gravity of safeguarding sensitive information. Additionally, a culture of continuous learning should be instilled, ensuring that all organization members stay abreast of evolving cyber threats. Finally, it is essential that businesses use reliable and certified technology to support their operations, as they keep venturing into the digital space. While these technologies are designed to evolve with the dynamic threat landscape, it is essential to ensure that they also provide a formidable line of defence against increasingly sophisticated cyber threats.
By IDS Next:
IDS Next is Asia's most prominent hospitality solutions provider, catering to global customers in 50 countries with award-winning software that automates and streamlines hotel, restaurant and leisure operations. IDS Next solutions integrate with over 100 leading technology partners. Having over 35 years of experience, the company promises the most secure operations with its PA DSS-certified and GDPR-compliant solutions. Today, the company powers 300,000+ rooms, 220+ hotel chains, 25,000+POS outlets and 300+ leisure venues across the globe. For more, visit, www.idsnext.com .