What are you currently doing about unredeemed balances on your company’s gift cards? Are these amounts being tracked, reported and paid over to your state of incorporation? If the answer to these questions is no, you could be at risk for significant liability, depending on the outcome of a case currently pending in Delaware.
In the early days of e-commerce, internet shopping was supposed to spell the demise of the physical store. Pure play online retailers would sweep all before them, rendering the retail store a historical curiosity.
The retail sector has been targeted and damaged by high-profile cyber security incursions, resulting in a loss of customer confidence and a move by retailers to upgrade security measures in the constant battle against criminal hackers.