MA-VERACODE
22.11.2022 13:51:37 CET | Business Wire | Press release
Veracode, a leading global provider of modern application security testing solutions, today revealed that almost three-quarters of applications in the retail & hospitality sector contain security flaws, but only 25 percent of these are fixed. Furthermore, 17 percent of these flaws are categorized as ‘high severity’, meaning they pose a serious risk to the business if exploited. With 76 percent of Americans planning to shop the Black Friday sales on 25 November*—and 56 percent planning to purchase entirely online**— retailers should take extra care to reinforce the security of their ecommerce systems, digital payment platforms, and supply chains.
The data was published in Veracode’s annual State of Software Security (SoSS) report v12, which analyzed 20 million scans across half a million applications in the retail, manufacturing, healthcare, financial services, technology, and government sectors.
Chris Eng, Chief Research Officer at Veracode, said, “Maintaining customer loyalty and trust is priority number one for retailers, and this will be heightened during the Black Friday period. With the average cost of a data breach in the retail sector calculated at $3.28 million***, implementing robust tools and practices to secure the applications customers use to browse and make purchases is imperative.”
Despite the relatively low number of flaws that are fixed, the retail industry takes second place for overall remediation rate, highlighting the need for software security improvements from organizations across all sectors. Eng said, “Compared with other sectors, retailers are better at fixing flaws when they’re discovered. While this is encouraging, it’s clear more needs to be done across the board to integrate flaw identification and remediation into the software development pipeline so that vulnerabilities can be addressed more efficiently.”
Server configuration, insecure dependencies, and authentication issues are the most common types of application flaws across most industries. The retail & hospitality sector follows a similar pattern; however, the sector has higher percentages in nearly every flaw category—perhaps due to the greater functional complexity of customer-facing and back-office applications.
Flaw Fix Times Fluctuate in Retail
Veracode analyzed three different scan types to generate industry comparisons for fix times: dynamic analysis security testing (DAST), static analysis security testing (SAST), and software composition analysis (SCA). Retailers were found to be the quickest to address flaws discovered by DAST, at 70 days to reach the halfway point, which is a staggering 46 days faster than financial services in second place. When it came to SAST and SCA, however, the retail sector fell to the middle of the pack, taking 346 days and 470 days respectively to reach the halfway fix point.
Across all industries, flaws in third-party libraries discovered through SCA persist for longer than those found through SAST and DAST, with 30 percent of vulnerable libraries still unresolved after two years. For the retail sector, that statistic rises to 35 percent and lags the cross-industry average by more than six months. Nevertheless, retailers should be assured that the gap is never too wide to close. Indeed, Veracode’s 2021 State of Software Security report found 92 percent of open-source flaws can be easily fixed with a simple update, which is good news for retailers looking to secure their software supply chains.
In the run-up to Black Friday, and nearly one year since the infamous Log4j vulnerability was first reported, retailers will be on high alert to maintain the speed, efficiency, and security of their applications. Businesses should take extra care to uncover vulnerabilities in third-party software using a combination of SCA and development tools. Using this approach with Veracode, Darius Radford, Application Security Architect at specialty retailer Floor & Decor, was able to get a comprehensive view of risk posed by vulnerable libraries in the company’s software: “We were able to quickly figure out all the places running Log4j and remediate the situation.” Trey Tunnel, Floor and Decor’s Chief Information Security Officer, added, “Our customers are our top priority. With Veracode, we have the confidence that our software is secure and—more importantly—our customers have the confidence that our software is secure.”
The Veracode State of Software Security v12 retail & hospitality snapshot is available to download here and the full report is available here.
* Future Publishing, “Exploring the impact of rising inflation”, June 2022, https://go.future-advertising.com/Rising-Inflation-Research-Insights.html
** Dot Digital, “Black Friday Stats: Everything You Need to Know (updated 2022), Jenna Paton, 20 September 2022, https://dotdigital.com/blog/black-friday-cyber-monday-stats/
*** IBM Security and The Ponemon Institute, “Cost of a Data Breach Report 2022”, July 2022, https://www.ibm.com/downloads/cas/3R8N1DZJ
About the State of Software Security Report
The Veracode State of Software Security (SoSS) v12 analyzed the full historical data from Veracode services and customers. This accounts for a total of more than half a million applications (592,720) that used all scan types, more than a million dynamic analysis scans (1,034,855), more than five million static analysis scans (5,137,882) and more than 18 million software composition analysis scans (18,473,203). All those scans produced 42 million raw static findings, 3.5 million raw dynamic findings, and six million raw SCA findings.
The data represents large and small companies, commercial software suppliers, software outsourcers, and open-source projects. In most analyses, an application was counted only once, even if it was submitted multiple times as vulnerabilities were remediated, and new versions uploaded.
About Veracode
Veracode is a leading AppSec partner for creating secure software, reducing the risk of security breach, and increasing security and development teams’ productivity. As a result, companies using Veracode can move their business, and the world, forward. With its combination of process automation, integrations, speed, and responsiveness, Veracode helps companies get accurate and reliable results to focus their efforts on fixing, not just finding, potential vulnerabilities. Learn more at www.veracode.com, on the Veracode blog and on Twitter.
Copyright © 2022 Veracode, Inc. All rights reserved. Veracode is a registered trademark of Veracode, Inc. in the United States and may be registered in certain other jurisdictions. All other product names, brands or logos belong to their respective holders. All other trademarks cited herein are property of their respective owners.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005446/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Klarna Card reaches 5 million active customers19.3.2026 15:31:00 CET | Press release
Klarna, the global digital bank and payments provider, today announced that the Klarna Card has reached 5 million active customers globally, underscoring rapid adoption as consumers shift towards new forms of payment which provide more control over day-to-day money management. The card draws from the customer's own funds for everyday spending, with the option to spread the cost of a specific purchase, like a large appliance or a flight, when it makes sense to do so. The result is a card that offers genuine spending control without the long-term debt obligations that come with traditional credit cards. The card’s growth is reinforced by Klarna’s membership program. The program offers premium perks such as airport lounge access, travel insurance, and lifestyle subscriptions — without requiring users to take on debt, meet spending thresholds, or revolve balances. By separating everyday spending from rewards, Klarna is challenging the strings-attached model legacy banks have long relied on
Stonebranch Releases 2026 Global State of IT Automation Report, Revealing Orchestration as the Missing Link for AI Adoption and Trust19.3.2026 14:30:00 CET | Press release
New research shows hybrid IT orchestration, automation-as-a-service, and WLA investments are accelerating as AI workflow deployment scales across the enterprise. Stonebranch, a leading provider of service orchestration and automation solutions, today released its annual 2026 Global State of IT Automation Report, the company’s most comprehensive research study to date. Based on responses from 402 IT automation professionals spanning C-suite executives to individual contributors across North America, EMEA, Latin America, and APAC, the report provides a detailed, data-driven portrait of how enterprises are investing in, deploying, and deriving value from IT automation in 2026. “This year’s findings highlight an important shift in how organizations approach automation,” said Giuseppe Damiani, CEO of Stonebranch. “Organizations are now building automation as strategic infrastructure — a governed, scalable foundation that spans hybrid environments, operationalizes AI, and delivers automation
Perma-Pipe Accelerates Growth with New U.S. Northeast Facility Investment to serve Artificial Intelligence Data Center customers, Provides Middle East Operations’ Update and Concludes the Board’s Review of Strategic Alternatives19.3.2026 14:00:00 CET | Press release
Perma-Pipe International Holdings, Inc. (the “Company”) today announced a strategic expansion initiative focused on accelerating growth through entry into the high-demand U.S. Northeast region. The Company is positioning itself to capitalize on the rapidly expanding Artificial Intelligence (“AI”)-driven data center market in both the United States and international markets while continuing to reinforce its leadership in critical infrastructure solutions. As part of this growth strategy, Perma-Pipe will prioritize investments aimed at expanding its presence in the rapidly evolving AI data center sector. The initiative reflects the Company’s long-term commitment to supporting next-generation technology infrastructure and strengthening its position in the global energy, industrial, and infrastructure markets. Expansion in the U.S. Northeast President & Chief Executive Officer, Saleh Sagr said, “We are excited to announce the expansion of our operations with a new facility in the Northeast
Armis Launches First-of-Its-Kind Benchmark Report Warning of Critical Security Gaps in AI-Native Development19.3.2026 13:00:00 CET | Press release
Research reveals 100% of leading generative AI models fail to generate secure code for critical development scenarios Armis, the cyber exposure management & security company, is warning that the rapid enterprise adoption of AI-native development is outpacing critical security safeguards, leaving organizations exposed to systemic vulnerabilities. New research from Armis Labs’ Trusted Vibing Benchmark Report, which evaluates 18 leading generative AI models across 31 test scenarios, reveals a 100% failure rate in generating secure code. These vulnerabilities are most prevalent in high-risk areas like memory buffer overflows, design file uploads and authentication systems. Therefore, organizations should immediately implement AI-native application security controls to reduce risk. “The era of vibe coding is here, but speed should not come at the cost of security,” said Nadir Izrael, CTO and Co-Founder of Armis. “Our research finds that the worst offenders are the same ones selling security
Morocco’s FRMF Welcomes CAF Appeal Board as Upholding Rules, Stability of International Competitions19.3.2026 12:53:00 CET | Press release
Following the announcement by the CAF Appeal Board, the Royal Moroccan Football Federation (FRMF) welcomes the decision, which reaffirms the primacy of competition regulations and reinforces the conditions necessary for the proper conduct of international tournaments. From the outset, following the incidents that led to the interruption of the match, the FRMF maintained a clear and consistent position: the strict application of the governing regulations. The Federation’s approach was solely guided by this principle. Following its appeal, CAF has now confirmed that the applicable regulations were not properly enforced. Throughout the process, the FRMF acted in full compliance with all relevant legal and procedural frameworks, with a constant focus on upholding its rights and preserving the integrity of the competition. This decision provides clarity on the applicable framework and strengthens the consistency and credibility of international competitions, particularly within African foot
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom