Tag: retail data breach
A retail data breach is a security incident in which sensitive, protected or confidential data has been copied, transmitted, viewed, stolen or used by an individual unauthorized to do so. Data breaches may involve financial information such as credit card or bank details, personal health information (PHI), personally identifiable information (PII), trade secrets of corporations, intellectual property, or other confidential information.
The retail industry has become a primary target for malicious cyber activity, with both individuals and criminal networks trying to steal financial information, identity information and credit card information. But issues have the potential of going even deeper. As demonstrated by recent data breach incidents, there is even the potential for business strategies, processes, products, and other valued information to be targeted by those seeking to pirate intellectual property and related business assets.
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There are many different ways that these breaches can occur, which is part of what makes it such a complex issue. Some methods are fairly unsophisticated, exploiting people’s natural inclination to trust others. Other methods may be much more sophisticated, with the cyber criminals investing in any number of intricate tools that will allow them to hack into the retail information system.
While such threats can never be eliminated entirely, a key aspect of any data protection policy is managing the potential risks. This involves understanding what our vulnerabilities may be, where our vulnerabilities may occur, what the potential consequences might be, and working together internally as a team to minimize those vulnerabilities.
As the volume of information that is shared over the Internet continues to increase, the potential for harm from network threats also increases. Unfortunately, this has resulted in heightened attempts to compromise systems as new and more malicious threats to network security are being developed. Consequently, those tasked with defending these networks must continuously educate themselves on the different types of network threats and take the necessary steps to prevent and deter retail data breaches.