![\"Target's](\"https:\/\/www.retailpro.com\/News\/blog\/wp-content\/uploads\/targets-infamous-data-breach-exposed-consumer-information-on-an-unpreced_278_581007_0_14098441_300.jpg\")
<\/a>Target’s infamous data breach exposed consumer information on an unprecedented scale.shops.<\/p><\/div>\n
Because what have retailers learned since the huge Target breach in 2013, which was also caused by POS malware? In some ways, it seems, not enough. Although the investigation into this attack continues\u00a0—\u00a0and the malware that caused the breach was identified and removed\u00a0—\u00a0the number and severity of these incidents has become so frequent it threatens to desensitize people to their severity.<\/p>\n
Retailers must\u00a0ensure they have protected the data they collect from their POS systems. In October, the liability shift happens; retailers will be required to accept the more secure \u201cchip and pin\u201d or EMV cards. The chips in the newer cards encode account information when transferring it to the merchant and are harder to duplicate than the magnetic stripes of yesteryear. They aren\u2019t infallible, but they are a major step forward.<\/p>\n
The new rules mandate that merchants that have not upgraded to EMV must be liable for any fraudulent charges. Currently, the banks are responsible. The very threat of liability should scare most into compliance. However, while paymentsource.com<\/a> expects that by the deadline 70% of U.S. cards will have EMV chips, a substantial\u00a0number of retailers will not accept chip and pin cards, believing the costs to upgrade would be higher than any liability they would suffer. That is a misconception that must change. Although upgrade costs may be perceived by some merchants as large, they are inconsequential compared with the cost of a breach, both in terms of reputation damage and of monetary reparations.<\/p>\n Retailers do not have to risk insolvency as the result of being responsible after a data breach. Take the liability shift seriously. Installing POS systems that accept chip and pin technology is the first, critical step in a long journey toward safer retailing.<\/p>\n","protected":false},"excerpt":{"rendered":" What\u2019s new at the zoo? Data breaches. A credit card processing service last week acknowledged that a pattern of fraud had been identified on cards that had all been traced back to use at zoo gift shops. The malware was … Continue reading