As back-to-school season kicks into high gear and holiday-driven spending looms in the distance, retailers across the country are using loyalty point programs to build relationships with customers and incentivize them to return for future purchases, driven by the promise of discounts, perks, exclusive benefits and more.
However, over the last year, and especially during the summer spending boom, customer loyalty point accounts have become the target of cybercriminals, who see this store of data as an excellent and vulnerable entryway into consumers’ accounts and, by extension, their wallets.