Last holiday season, the personal credentials of over 40 million Target customers were stolen which also made it the biggest such breach from any retailer in history. While Target and other retailers have already strengthened their security, this might not be enough to avert another security breach.
So, this Wednesday, famous retailers in the country have come together to share data with each other to protect themselves from another attack. Many well-known retailers have come forward to pledge alliance to Retail Cyber Intelligence Sharing Center (R-CISC) which includes Target, Walgreens, American Eagle, JC Penney, Gap, and Nike.
The members of the group will share information with each other as well as other stakeholders like federal law enforcement, government agencies and subject matter experts. R-CISC’s structure has been built after taking into consideration the input from more than 50 US retailers along with several other government agencies.
The group members will share information about new malwares, software vulnerabilities and future threats to avert potential disaster. Taking care of the vulnerabilities in the system as soon as it’s detected will help them protect customer and store information from hackers.
The basic objective of the group is to stay ahead of cyber criminals. Today’s retailers rely on technology for everything and these cybercriminals are becoming increasingly sophisticated and advanced. So, it’s very important that the retailers are in a position to combat a possible breach and the best way to do so is by collaborating and sharing information with other retailers in the industry.
Sandy Kennedy, President of RILA said, “Retailers place extremely high priority on finding solutions to combat cyber attacks and protect customers. In the face of persistent cyber criminals with increasingly sophisticated methods of attack, the R-CISC is a comprehensive resource for retailers to receive and share threat information, advance leading practices and develop research relevant to fighting cyber crimes.”
Target’s Point-of-Sale data breach caught everyone by surprise and hence, this was a much needed step for protecting and securing the data of millions of customers. Further, as the group is working closely with government agencies, the retailers can be warned of possible attacks. This will help to avoid any possible damage to the company as well as the customers.
According to the press release by R-CISC, the group is open to retailers and merchants of all segments. Given that more and more cyber security attacks are being reported in recent times, one can expect many more retailers to join the group in the next few years.
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