Endpoint
1/22/2014
08:29 AM
Dark Reading
Dark Reading
Products and Releases
Connect Directly
RSS
E-Mail
50%
50%

National Retail Foundation Urges Transition To More Secure And Advanced Credit And Debit Cards

Expresses support for immediate transition from magnetic-stripe cards to more secure and advanced PIN and chip cards

WASHINGTON, January 21, 2014 – The National Retail Federation today sent a letter to congressional leaders outlining the retail industry's commitment to protecting sensitive consumer data in the wake of the recent international cyber attacks and thefts.

"The National Retail Federation and our 12,000 members are committed to combating this criminal threat to our industry and our customers, and we strongly recommend the adoption of meaningful steps to fight cyber theft and credit card fraud," NRF President and CEO Matthew Shay wrote in the letter sent to Senate Majority Leader Harry Reid, D-Nev. and House Speaker John Boehner, R-Ohio.

The letter reiterated the retail industry's long-held support for replacing current credit and debit cards with cards that would store data in an embedded computer micro-chip and require the use of a PIN rather than a signature. Current cards use easy-to-hack 1960s technology.

"For years, banks have continued to issue fraud-prone magnetic stripe cards to U.S. customers, putting sensitive financial information at risk while simultaneously touting the security benefits of next-generation PIN and Chip card technology for customers in Europe and dozens of other markets," Shay said.

NRF expressed its support for an immediate transition from magnetic-stripe cards to more-secure and advanced PIN and Chip cards to better protect consumer data from theft, hacking and skimming. PIN and Chip cards are widely used in more than 80 countries throughout Europe, Asia and Africa.

"The retail industry is eager to work with banks and card companies to fight cyber attacks and reduce fraud," Shay said. "These efforts include installation of sophisticated new PIN-enabled point-of-sale-systems and readiness to adopt cards with more secure microchip technology, but the fact remains that retailers cannot do this alone."

NRF is the world's largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation's largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation's economy. NRF's This is Retail campaign highlights the industry's opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
asksqn
50%
50%
asksqn,
User Rank: Apprentice
1/22/2014 | 5:09:49 PM
re: National Retail Foundation Urges Transition To More Secure And Advanced Credit And Debit Cards
Given the lies, obfuscations and ongoing denials of data breaches in the US, not to mention there hasn't been even a single prosecution in the financial industry for crashing the global economy and enabling mexican drug cartels to launder money, I don't see Visa et al. worrying about replacing the magnetic strips with pin/chip technology regardless of how secure it will make cards. The annual expense of fraud/theft is chump change to these bailed out companies.
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Flash Poll
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2014-0485
Published: 2014-09-02
S3QL 1.18.1 and earlier uses the pickle Python module unsafely, which allows remote attackers to execute arbitrary code via a crafted serialized object in (1) common.py or (2) local.py in backends/.

CVE-2014-3861
Published: 2014-09-02
Cross-site scripting (XSS) vulnerability in CDA.xsl in HL7 C-CDA 1.1 and earlier allows remote attackers to inject arbitrary web script or HTML via a crafted reference element within a nonXMLBody element.

CVE-2014-3862
Published: 2014-09-02
CDA.xsl in HL7 C-CDA 1.1 and earlier allows remote attackers to discover potentially sensitive URLs via a crafted reference element that triggers creation of an IMG element with an arbitrary URL in its SRC attribute, leading to information disclosure in a Referer log.

CVE-2014-5076
Published: 2014-09-02
The La Banque Postale application before 3.2.6 for Android does not prevent the launching of an activity by a component of another application, which allows attackers to obtain sensitive cached banking information via crafted intents, as demonstrated by the drozer framework.

CVE-2014-5136
Published: 2014-09-02
Cross-site scripting (XSS) vulnerability in Innovative Interfaces Sierra Library Services Platform 1.2_3 allows remote attackers to inject arbitrary web script or HTML via unspecified parameters.

Best of the Web
Dark Reading Radio
Archived Dark Reading Radio
This episode of Dark Reading Radio looks at infosec security from the big enterprise POV with interviews featuring Ron Plesco, Cyber Investigations, Intelligence & Analytics at KPMG; and Chris Inglis & Chris Bell of Securonix.