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Retailers are now the top target for cybercriminals as the focus shifts from financial markets and institutions. Retailers experienced nearly three times as many cyberattacks as those in the finance sector, last year's top target, according to the NTT 2016 Global Threat Intelligence Report.
A suspected data breach of point-of-sale systems at Hilton Hotels properties and franchised locations is being investigated. The Trump Hotel Collection also confirmed that IT security has been compromised at seven of its properties.
Hackers are increasingly attacking third party partners, like point-of-sale (POS) resellers, to break into retailers' systems through weak remote access controls—in fact, this, along with weak passwords, contributed to 94 percent of POS breaches investigated by Trustwave in 2014.
A U.S. judge has certified a class action lawsuit against Target for its massive 2013 data breach. Ruled in a Minnesota court, the judge said the banks could work together to pursue claims over the breach, which compromised at least 40 million credit cards. A target spokesperson called the decision "disappointing" and said the retailer would review next steps. Target will most likely settle with the banks due to the ruling.
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