News

Analysis: Five Steps to Data Breach Prevention

BY CSA STAFF
When was the last time you were witness to a shopper paying for a purchase with actual cash? In today’s retail market, the majority of shoppers are leveraging credit and debit cards for their purchases – the more progressive group has even started using mobile wallet options. Although the mobile payment adoption rate is increasing, industry experts realize that with convenience comes the burgeoning of security risks such as data breaches.

It’s been a tough year for the retail industry, especially for high-profile brands such as Home Depot, Target and Neiman Marcus. According to recent reports, Home Depot has officially announced that over 56 million credit cards were stolen – the data breach landscape is evolving and unfortunately, not slowing down any time soon. Retailers must find a way to keep customers’ financial data.

Adopting a data security strategy based upon the guidelines of the PCI Data Security Standard (DSS) is only a start to protecting customers from potential breaches. Here are five key initiatives retailers must do to effectively secure consumer financial data:

1. Know Exactly Where Your Business is Being Conducted

The majority of retailers have their customer data spread out across multiple locations, including at the company’s corporate offices, at specific retail store locations or even within the brand’s online portal. Because of this, it is critical for retailers to understand how and where customer data—especially payment information—is being accessed, handled, and most importantly, how it is being secured.

2. Recognize Data at Rest

Retailers are constantly storing information in multiple locations, usually for the customer’s convenience. However, data stored on portable devices such as laptops or archived on servers is often forgotten and—as a result—becomes a prime target for hackers. Retailers must encrypt all data at rest. By doing so, there is little to no concern should a device be stolen or lost.

3. Track Moving Data

Retail brands need to have a clear understanding of how their customer’s data is moving through its infrastructure. Technologies like sniffers and network traffic monitoring software enable retailers to track where customer data has been, where it’s headed and most importantly whether or not it was encrypted during flight. This allows for retailers to adjust security measures in response to a potential threat.

4. Join Forces with a Security Expert

By partnering with a data security vendor, retailers can leave the managing of their security infrastructure up to the experts and focus on what’s really important to their brand—selling merchandise and keeping customers happy. A partner can monitor and implement the most appropriate security measures in response to both current and emerging threats.

5. Implement an Encryption Policy

Retailers need an encryption policy that is mandatory yet manageable. Role-based controls are also a critical component; this implies only specific individuals have the ability to control or access information. Routine and ongoing audits are also always recommended to ensure that a company’s data security and encryption polices are constantly being enforced.

It’s unfortunate that data breaches continue to happen and that they are compromising the personal information of millions of consumers. These recent breach incidents have created a heightened sense of awareness for the industry; IT decision makers and high-level executives are recognizing the need for better security policies and strategies. The best we as security professionals can do is continue to evolve and create innovative solutions to help better protect our customers’ data.

The five steps noted above are an important aspect of that continued evolution; they are also explained in further detail in our recently published eBook, “Five Observations of Retail Data Breaches: Why Include Encryption?” (available for download at winmagic.com).

Mark Hickman is COO of WinMagic

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Thanksgiving costs 34% less at Walmart

BY CSA STAFF

Walmart customers shopping for a traditional Thanksgiving meal can plan a 10-person dinner for $32.64, or 34 percent less than average, according to the nation’s largest farm group.

“We’re focused on offering competitive pricing on everything our customers are looking for this holiday season, from staples like turkey and pumpkin pie to new ingredients some customers are incorporating into their Thanksgiving recipes, like honey bourbon bacon and flavored hams,” said Jack Sinclair, executive vice president of grocery at Walmart U.S. “Customers can shop Walmart with confidence for all their holiday meal essentials.”

Ingredients for a typical holiday feast, with turkey and all the trimmings, can cost an average of $49.41 at other stores, up 37 cents from $49.04 in 2013, the American Farm Bureau Federation said.Data were derived from 179 volunteer shoppers who checked prices at grocery stores in 35 states.The national average cost of the dinner has remained around $49 since 2011.

Walmart recently expanded its Savings Catcher tool earlier this month to include holiday turkey and ham.

The Farm Bureau's dinner also includes bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, plus coffee and milk, all in quantities enough for a family of 10, with leftovers.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Lids teams up with NBA on customization

BY CSA STAFF

As the NBA season gets fully under way, specialty retailer Lids is looking to capitalize on fan excitement by offering customizable and personalized NBA apparel and headwear for the first time ever.

Shoppers will be able to customize the new Adidas NBA Swingman jersey with the name and number of any NBA player, or personalize the jersey with their own name and number in more than 70 Lids stores nationwide. Player-customization or personalization of NBA team logo Adidas and Mitchell & Ness headwear will also be an option in more than 800 U.S. Lids stores.

“As a national leader in fan wear, our primary goal is to provide our customers the ability to express their personal style and love of the game, not just for some of the teams and top stars, but any player, any team, any time,” said Ken Kocher, president of LIDS Sports Group. “Through select professional sports partnerships, custom embroidery capabilities and a wide selection of styles and sizes, we are committed to giving our customers the official gear they want, right when they want it.”

“We are always looking to bring new and exciting merchandise to our fans,” said Brian Keegan, NBA vice president of global retail development. “The new NBA Swingman jersey, coupled with the customized and personalized programs, accomplish this goal and provide our fans a unique and compelling customer experience at LIDS and Locker Room by LIDS stores."

Lids recruited NBA No. 1 draft pick Andrew Wiggins of the Minnesota Timberwolves to shoot an ad in support of the new customization.

LIDS currently operates 936 headwear specialty retail stores, 151 sports fan retail stores and 57 team-specific professional sports and university athletics retail stores across North America.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES