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Magecart Isn’t Just a Security Problem; It’s Also a Business Problem
Magecart is more than just a security problem—it’s also a business problem. When threat actors breached British Airways in September resulting in the compromise of thousands of customers’ credit cards, the world got a look at what the fallout of a modern security breach looks like. Immediately afterward, a law firm launched a £500 million class action suit. On top of that, under GDPR, firms found liable for a breach can be fined up to 4% of turnover, or £500 million in British Airways’ case. Magecart, the digital credit card skimming groups behind some of the most impactful hacks of 2018, was the culprit. As the world saw, Magecart is more than just the flavor of the week hacking group—it’s a threat that will haunt businesses long into the future. That’s why it’s foolish to view Magecart as anything but a new threat category all its own. Like malware, phishing, domain infringement, etc., organizations now need a long-term solution to address it.
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