Endpoint
12/8/2016
01:00 PM
Steve Zurier
Steve Zurier
Slideshows
Connect Directly
Twitter
RSS
E-Mail
50%
50%

How Retailers Can Fight Holiday Season Hackers

Experts offer tips for locking down retailers' point-of-sale systems for the busy holiday shopping season.
Previous
1 of 7
Next

Image Source: Flickr

Image Source: Flickr

The holidays are here and while it brings out the shoppers, it also brings out the crooks. 

Big money will change hands. Based on early estimates from the National Retail Federation, the trade group expects retail sales excluding gas, autos and restaurants in November and December to increase 3.6% to $655.8 billion.

That’s significantly higher than the 10-year average of 2.5% and above the seven-year average of 3.4% since the economy began recovering from the Great Recession in 2009.

And there’s even more good news for retailers.

Ruston Miles, founder and chief innovation officer at Bluefin Payment Systems, says with more retailers using EMV chip cards at their point-of-sale (POS) terminals, the chances for counterfeit cards to get by cashiers has diminished.

“Just think about it, when magnetic stripe cards came out people were using cassette tapes and 8-tracks, the EMV chips really do enhance security in the card,” he says.

However, Miles adds that the protection EMV chips offer only goes so far. Companies still need to encrypt the card readers on the POS systems and use tokenization to ensure enhanced security.

While Miles offers good advice, research by Iovation found that the EMV chips really are driving fraudsters away from brick-and-mortar crime. Iovation found that there was a 20 percent increase in online credit card fraud from Black Friday to Cyber Monday this year when compared to the same period in 2015. There was also a 34% increase in online credit card fraud from Black Friday to Cyber Monday 2014 to 2016.

“This shows that the cybercriminals are quick to shift their scams,” says Scott Waddell CTO at Iovation. “We think the EMV chips have deterred them enough that they are shifting their operations to online commerce.”

Larry Brennan, senior vice president of merchant data security and cybersecurity director at Bank of America Merchant Services, adds that retailers need to practice good cyber hygiene and be on the lookout for skimmers.

“Retailers should definitely have the store managers check the in-store video cameras to see if any skimming has gone on,” he says. “And stores should check the POS terminals after every shift for skimmers.”

In interviews with Miles, Waddell and Brennan, we developed a list of six tips retailers should keep in mind to keep their stores safe for the holidays. 

 

Steve Zurier has more than 30 years of journalism and publishing experience, most of the last 24 of which were spent covering networking and security technology. Steve is based in Columbia, Md. View Full Bio

Previous
1 of 7
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for Dark Reading Newsletters
Dark Reading Live EVENTS
INsecurity - For the Defenders of Enterprise Security
A Dark Reading Conference
While red team conferences focus primarily on new vulnerabilities and security researchers, INsecurity puts security execution, protection, and operations center stage. The primary speakers will be CISOs and leaders in security defense; the blue team will be the focus.
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: No, you were supposed to display UNICODE characters!
Current Issue
Security Vulnerabilities: The Next Wave
Just when you thought it was safe, researchers have unveiled a new round of IT security flaws. Is your enterprise ready?
Flash Poll
[Strategic Security Report] Assessing Cybersecurity Risk
[Strategic Security Report] Assessing Cybersecurity Risk
As cyber attackers become more sophisticated and enterprise defenses become more complex, many enterprises are faced with a complicated question: what is the risk of an IT security breach? This report delivers insight on how today's enterprises evaluate the risks they face. This report also offers a look at security professionals' concerns about a wide variety of threats, including cloud security, mobile security, and the Internet of Things.
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2017-0290
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

CVE-2016-10369
Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

CVE-2016-8202
Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

CVE-2016-8209
Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

CVE-2017-0890
Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.