IADS Press Release: IADS teams up with the leading US retail cyberdefence association
To provide its department store members with a leading edge in cybersecurity, the International Association of Department Stores (IADS) partners with the Retail and Hospitality Information Sharing and Analysis Center (RH-ISAC), the world-leading community dedicated to cybersecurity information and intelligence.
The cost of cybercrime is predicted to rise from an estimated $8tr in 2023 to $10.5tr by 2025, and it is expected that 45% of global organizations will be impacted in some way by a supply chain attack. Retail in general, and department stores in particular, are not immune to this growing and very real threat. To further help department stores in having access to information, data and a trusted community dedicated to the topic, a strategic partnership has been established with RH-ISAC, providing IADS members with the right assortment of strategic and tactical tools to make the right decisions in the future.
Initiated in 2020, the transformative upgrade of the IADS is now taking on a new dimension through the partnership signed with RH-ISAC to grant department store members access to a secure place where they can share cybersecurity information and intelligence with 250+ major retailers operating in the US.
With the need to address digital-savvy customers, the increasing interconnections with suppliers for compliance purposes and the digitization of operations to increase speed, department stores have accelerated their digital transformation for the past decade. As a consequence, cybersecurity has become a critically important topic for them, as it encompasses a wide range of their activities and responsibilities, from customer data protection to business reputation and regulatory compliance. It allows them to guarantee business continuity and grow their competitive advantage. For that reason, investing in robust cybersecurity measures and keeping up to date with the latest information are not only good practices but business necessities. This is why the partnership with RH-ISAC proves to be a competitive advantage to IADS members, as they will have access to a wide range of information and data, in addition to a safe place for exchange, to further help their decision-making process when it comes to cybersecurity topics.
RH-ISAC is a leading non-profit organization that serves as a trusted community for sharing timely and actionable cyber threat intelligence, best practices, and incident response guidance for the retail and hospitality industries.
“Partnering with the RH-ISAC advances our role in improving cybersecurity to protect our members and the industry as a whole,” said Selvane Mohandas du Ménil, Managing Director of the International Association of Department Stores (IADS).
“RH-ISAC is excited to have the IADS as a partner, and we look forward to working with them to enhance the security in the retail and hospitality industries,” said Suzie Squier, president of RH-ISAC.
The RH-ISAC partnership comes as the latest element completing a one-of-a-kind palette of services that makes the IADS truly stand apart in the world of global retail associations.
Read the full press release below:
Read the full press release, in French, below: