Nearly 90 percent of data breaches could have been easily prevented. That's the results of a new report from the Online Trust Alliance (OTA). Its 2015 Data Protection Best Practices and Risk Assessment Guide analyzed more than a thousand breaches involving the loss of personally identifiable information in 2014, and found that only 40 percent were the result of external intrusions.
President Barack Obama has proposed new legislation that requires companies to notify consumers of a possible data breach within 30 days of its detection. The Personal Data Notification and Protection Act proposes, among other things, that companies must notify customers when their personal information has been exposed, including establishing a 30-day notification requirement from the discovery of a breach, while providing companies with the certainty of a single, national standard.
NEW YORK—In a far corner of the Jacob K. Javits Convention Center, a smattering of attendees turned out for NRF's sole conference session on cyber security. A cyber crime occurs every 18 seconds, but few companies are developing proactive plans to deal with a security event before it happens. Involving executives, including a company's board of directors, is imperative for retailers to mitigate the damage from a breach.
Security, wearables and retail POS security are among the top technology trends retailers should be aware of in 2015. Thanks to the massive Sony data hack, the biggest IT development of 2015 will be ubiquitous security initiatives, CIOs and tech vendors told The Wall Street Journal 's "CIO Journal" blog.
Retailers estimate that they will lose $3.8 billion to return fraud for the 2014 holiday season, up from last year's $3.4 billion estimate, according to a recent National Retail Federation (NRF) survey.
The Retail Industry Leaders Association (RILA) is criticizing banks' and card issuers' decision to roll out chip and signature cards, rather than chip-and-PIN cards, which are more secure. While major U.S. retail chains—including Walmart and Target—have installed terminals to accept chip-and-PIN cards, card issuers don't plan to issue the new cards this year.
Several retail trade organizations including the Retail Industry Leaders Association (RILA) and the National Retail Federation (NRF) have sent a letter identifying what they term "the shortcomings in the financial services' recent arguments about card security."
The computer hack of Sony internal data and emails has suddenly become, well, terrifying, The group, Guardians of Peace, which took credit for hacking the entertainment giant's internal data – and released a lot of it – in late November now says it is planning an attack on movie theaters that are showing the new movie, "The Interview".
Consumers are suffering from "breach fatigue", since many retailers have been the target of card and data breaches in the last year. While the massive Target breach has been the most publicized, Home Depot, Kmart, SuperValu and a host of other retailers have also been targeted.
Another data breach affecting shoppers' payment cards has been detected, but this time it's not a retailer but mobile payment platform Charge Anywhere.