Shopper distrust following a series of retail data breaches is high—three in 10 shoppers say they don't trust retailers to protect personal and financial data against cyber criminals.
Blogger Brian Krebs is responsible for breaking many a story about cybercrime, but more than anything he believes that retailers need to fundamentally change the way they respond to breaches.
The U.S. Securities and Exchange Commission is looking into whether companies properly handled and disclosed cyber attacks in the wake of a series of major data breaches.
P.F. Chang's has released a statement following news of a data breach in early June. While the company has not identified the scope or cause of the breach, it has attributed the attack to the work of an organized criminal operation.
Another day, another data breach, this time effecting yet unnamed restaurants in the northwestern United States, which recently notified customers of a remote-access compromise that may have exposed credit and debit card data from POS transactions between Feb. 28 and April 18.
There's nary a retail organization not focused on IT security today thanks to recent high-profile data breaches. Gartner's list of top technologies can help narrow the focus when identifying risk and seeking solutions. "Enterprises are dedicating increasing resources to security and risk. Nevertheless, attacks are increasing in frequency and sophistication," said Neil MacDonald, VP and Gartner Fellow. "Advanced targeted attacks and security vulnerabilities in software only add to the headaches brought by the disruptiveness of the Nexus of Forces, which brings mobile, cloud, social and big data together to deliver new business opportunities." The list of technologies is long and detailed, but so too are the number of threats to retailers. Among Gartner's top technologies are...
In spite of all the attention that credit card fraud and data breaches are getting in the retail industry, cash theft remains one of the biggest sources of retail shrink.
Easily-guessed passwords or weak passwords on payment systems is one of the leading methods criminals use to steal valuable credit and debit card information from businesses, yet many retailers are ignoring this security risk. According to an annual security report issued by Trustwave, "Password1" is still the most common password used by global businesses. And, out of three million user passwords analyzed, 50 percent of users are using the bare minimum.
The results of a new data security survey of U.S. businesses should not be surprising, but they are certainly alarming. Even though high-profile data breaches such as Target and P.F. Chang's have been in the news since the start of the year, IT executives said their companies' data is not secure.
While retailers and restaurants in the U.S. deal with a flood of card data breaches, hackers have demanded a ransom of 30,000 euros ($40,706) from Domino's Pizza. In a startling move, the hackers demanded the money after stealing personal data on more than 600,000 of the restaurant chain's customers in Belgium and France.