SECURITY/RISK

  • Target and Best Buy among speakers at annual cybersecurity summit

    The Retail Cyber Intelligence Sharing Center (R-CISC) has announced featured speakers for its Retail Cyber Intelligence Summit, held October 3 - 4, 2017, in Chicago.    Among the keynote speakers are Rich Agostino, chief information security officer at Target Corp, who will lead a session titled, "Stepping into Leadership: Staying Ahead of Today's Threats and the Evolving CISO Role," and Kostas Georgakopoulos, CISO at Procter & Gamble, leading a session on the next evolution of information security.  

  • Study: Majority of retailers feel 'vulnerable' to a data breach

    While the number of cyber-attacks have declined in the last year, a majority of companies still feel susceptible to data threats.   This was according to the “2017 Thales Data Threat Report, Retail Edition,” from Thales e-Security and analyst firm 451 Research. The study is based on responses from more than 1100 senior security executives, including in the retail segment, from across the globe.   

  • The Rush to Deploy the Latest In-Store Technology is Compromising IT Security
    Digital transformation is accelerating the pace of change within the store environment.

  • Target welcomes new class to accelerator program
    The newest batch of start-ups are making their way to Minneapolis for the second annual Target + Techstars retail accelerator program.   After receiving applications from more than 3,000 technology start-ups — 70% of which had a co-founder who is either female or comes from an ethnically diverse background — Target whittled the list down to 10 finalists for this year’s tech accelerator. Companies range from online advertising to rebates to clothing alterations, and hail from Minneapolis to as far as Belgium.

  • BDO: The top risk factors for retailers are....
    Consumer confidence remains strong, but that's not stopping retailers from worrying about the economy.   General economic conditions ranked as a top risk factor for the 9th consecutive year in an annual ranking of the top 25 risk factors by retailers, cited by 100% of respondents. Cybersecurity and regulatory concerns shared the top spot with the economy.  

  • Study: EMV is shifting fraud online
    A new fraud pattern is emerging.    For 84% of U.S.-based companies, EMV has lowered their fraud prevention costs. However, 52% of retailers said their card not present (CNP) losses are growing.   This is according to the “2017 Global Payments Insight Survey: Merchants and Retailers,” from ACI Worldwide and Ovum. The study tapped 1,475 payments executives globally in December, 2016 -January, 2017.   

  • Retailers losing billions to inventory shrink
    The nation's retailers lost a staggering amount of money in 2016 due to shoplifting, organized crime, internal theft and other types of inventory shrink.    Inventory shrink totaled $48.9 billion in 2016, up from $45.2 billion the year before, as budget constraints left retail security budgets flat or declining, according to the annual National Retail Security Survey by the National Retail Federation and the University of Florida. The thefts amounted to 1.44% of sales, up from 1.38%.  

  • Deloitte: Retailers have false sense of cyber-security
    A majority of companies, including retailers, are confident about cyber-security, but their confidence may not be justified.      That’s according to “Cyber Risk in Consumer Business,” a report from Deloitte. The report is based on input from more than 400 CIOs, CISOs, CTOs and other senior executives.   

  • Juniper: Retailers brace for $71 billion card-not-present fraud loss
    With fraudulent card-not-present (CNP) transactions on the rise, losses will become staggering over the next five years.    Retailers stand to lose $71 billion globally by 2022, driven by a number of factors, such as the United States' shift to Europay, MasterCard and Visa (EMV) chip cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud. This was according to “Online Payment Fraud: Emerging Threats, Key Vertical Strategies & Market Forecasts 2017-2022,” a report from Juniper Research. 

  • Computer meltdown takes a toll on U.K. grocer’s home delivery service
    A computer glitch is blamed for canceled orders and growing frustrations among Tesco’s home delivery customers.   An IT meltdown impacted orders filtering into the U.K.-based supermarket giant’s online grocery shopping system. The glitch impacted orders being placed online, as well as those scheduled for delivery, according to customer posts on Twitter.  
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