The Retail Cyber Intelligence Sharing Center has expanded the capabilities of its Retail Information Sharing Analysis Center (Retail ISAC) with the establishment of an intelligence sharing portal managed by the Financial Services Information Sharing and Analysis Center (FS-ISAC).
The National Retail Federation on Wednesday presented Congress with what it termed “practical, commonsense and achievable solutions” to better protect consumers and help businesses prevent cyberattacks and data breaches, including passage of a uniform nationwide breach notification law applying to all entities that handle sensitive customer information.
Data breaches are on the rise around the world. Digital security provider Gemalto released the latest edition of its Breach Level Index (BLI), revealing that more than 1,500 data breaches led to one billion data records compromised worldwide during 2014.
By: David Kidd, Peak 10
Data privacy and security remain top concerns for retailers. There is good reason for that. The Target breach compromised approximately 70 million records. The Home Depot breach potentially impacted another 60 million consumers. As I write this article, reports are being made public about a breach involving the office supply retailer Staples. We can no longer deny that cybercrime is a real and growing threat to the retail sector.
The recent cyber attacks on Target, Neiman Marcus and Michaels Stores had an immediate and profound impact on sales, as well as a widespread and ongoing ripple effect on consumer confidence in the safety of credit-card information at point-of-sale terminals.
Ever since the major retailer breaches last year, outsiders have been pointing fingers at the victim merchants demanding to know how something like this could happen. But cyber risk in the payment card industry is a problem greater than any one company.
If retailers want to address credit card breaches head-on, then they need to join the leaders already taking their systems off the radar of advanced malware based attacks — especially any retailer that's seen repeated attacks, which illustrate that traditional IT defenses simply don't cut the mustard.
Secure data vault provider CertainStore is rolling out of a cybersecurity solution utilizing its proprietary micro-encryption/micro-tokenization technology to prevent the re-occurrence of recent malicious attacks on customer data.