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Small To Mid-Size Businesses: The New Target For Hackers

VP Heartland head shotBefore the Target breach, which shook the data security industry to the core, many big companies didn’t see the need to make security a top priority. Many executives thought “good enough” was enough to protect them and their customers.

Target is paying nearly $200 million for its breach, and the big box retailer’s Q2 earnings of $234 million are dismal compared to earnings of $611 million in the same period last year. The cost of being “good enough” is no longer good enough.

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Capitalizing On Retail Big Data

Dolphin head shotIncreasingly, retailers are collecting large volumes of transaction data at the point of sale. This data makes pinpointing consumer behavior easier than ever, as retailers obtain real time data about consumer preferences, whether it is the latest fashion trend, a hot new food item, or packaged good.

With Big Data, retailers have the ability to stay on top of the competition and respond quickly to consumer demands. But point-of-sale transactions aren’t the only source of Big Data. Retail supply chains and internal processes are also generating large volumes of data. If retailers want to succeed in a competitive marketplace, they must not only collect retail data, they must also understand how to control it.

As more retail companies grow through mergers and acquisitions, expand into new territories, or launch new product lines, they must consider how data and processes work together to support the businesses’ near term and long term goals. Here we present some simple rules that retailers can follow to help them capitalize on the valuable data they have while staying in control.

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56 Million Payment Cards Compromised In Home Depot Breach

UPDATE: The Home Depot has reported that 56 million credit and debit cards may have been compromised in a data breach that extended over a period of five months. The attack has been spotlighted as the largest data breach to hit a retailer. In fact, the breach is significantly larger and more severe than the one Target experienced, which impacted 40 million credit and debit cards during the 2013 holiday season. 

The cybercriminals used custom-build malware to evade detection, the Home Deport reported in an announcement. Prior to eliminating the malware, the retailer put all impacted terminals out of service. The malware has since been eliminated from U.S. and Canadian networks. 

As a result of the breach, the Home Depot is in the midst of rolling out a major payment security project that will provide enhanced encryption of payment data by scrambling card information to make it unreadable. The implementation will be completed by early 2015. 

Retail TouchPoints' original coverage of the news is below. 

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45% Of Shoppers Don’t Trust Retailers To Keep Their Information Safe

RR Ineractions imageAlmost half (45%) of shoppers don’t trust retailers to keep their credit and debit card information safe from potential hackers, according to a report from Interactions. Up to 44% of respondents have had their personal information stolen as a result of a security breach.

The Retail Perceptions report, titled: Retail’s Reality: Shopping Behavior After Security Breaches, offers insight into how consumers’ loyalty to brands changed following highly publicized data breaches. Up to 12% of shoppers said they stopped shopping with retailers that experienced a breach, with an additional 36% indicating they shopped at the retailer less frequently.

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51 UPS Stores May Be Impacted By Data Breach

Shortly after SuperValu announced a data breach that potentially impacted 209 locations, The UPS Store has reported a similar incident.

The subsidiary of United Parcel Service of North America (UPS) revealed yesterday that the breach could have compromised customer credit and debit card data from 51 UPS franchise locations nationwide. Information that may be at risk includes names, postal addresses, email addresses and payment card information.

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SuperValu, Albertson’s Report Data Breach

databreachSupermarket chain SuperValu is investigating a data breach that may have affected credit and debit cards swiped at POS systems in 209 stores between June 22 and July 17, 2014. The breach may have resulted in the theft of account numbers, expiration dates and cardholder names of customers using payment cards at the stores. The breach affects SuperValu stores operated under the Cub Foods, Farm Fresh, Hornbacher’s, Shop ‘N Save and Shoppers brands.

As part of the same breach, stores operated by AB Acquisition LLC also may have been affected. AB is the parent company of supermarket chains Albertson’s, ACME Markets, Jewel-Osco, Shaw’s and Star Markets. SuperValu provides IT services to stores under the AB Acquisition umbrella. AB Acquisition has not revealed the number of stores that could have been affected by the attack.

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In The Wake Of The Target Fiasco, Where Retailers Need To Focus Data-Security Efforts

VP site only BeachheadThe massive breach of Target's data security systems in late 2013 surprised many customers who have come to take the safety of electronic transactions for granted. To insiders following consumer data theft, however, it came as less of a revelation. To them, the Target breach merely served as a painful reminder of the relative weakness of data security systems in the American retail industry. As retailers have expanded their operations across a broader variety of platforms, they have too often neglected to establish necessary safeguards on the information transmitted across those platforms. Where customers see greater convenience, sophisticated hackers see new opportunities.

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Is Facebook’s “Buy Now” Button The Next Generation Of Social Commerce?

FacebookFacebook is in the early stages of testing a new feature designed to help businesses drive sales through the users’ News Feeds and on Pages.

A “Buy” button will be included in ads and Page posts as a call-to-action for customers to purchase products directly from a brand or retailer without having to leave their Facebook pages. The test currently is limited to a selection of small- and medium-sized businesses in the U.S.

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National Retail Federation Appoints Two Execs To Government Relations Positions

Screen Shot 2014-07-11 at 1.50.48 PMThe National Retail Federation (NRF) has appointed Paul G. Martino as Vice President and Senior Policy Counsel, and promoted Beth Provenzano to Vice President of Federal Government Relations.

Previously, Martino served as Partner and Co-Chair of the Privacy and Data Security practice at law firm Alston & Bird LLP. In addition to working as a consultant for the NRF, Martino served as majority counsel to the Senate Commerce Committee, and acted as a principal advisor on privacy and e-Commerce to Senator John McCain who is Chairman of the Committee.

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