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SECURITY/RISK

  • BDO: The top risk factors for retailers are....
    Consumer confidence remains strong, but that's not stopping retailers from worrying about the economy.   General economic conditions ranked as a top risk factor for the 9th consecutive year in an annual ranking of the top 25 risk factors by retailers, cited by 100% of respondents. Cybersecurity and regulatory concerns shared the top spot with the economy.  

  • Study: EMV is shifting fraud online
    A new fraud pattern is emerging.    For 84% of U.S.-based companies, EMV has lowered their fraud prevention costs. However, 52% of retailers said their card not present (CNP) losses are growing.   This is according to the “2017 Global Payments Insight Survey: Merchants and Retailers,” from ACI Worldwide and Ovum. The study tapped 1,475 payments executives globally in December, 2016 -January, 2017.   

  • Deloitte: Retailers have false sense of cyber-security
    A majority of companies, including retailers, are confident about cyber-security, but their confidence may not be justified.      That’s according to “Cyber Risk in Consumer Business,” a report from Deloitte. The report is based on input from more than 400 CIOs, CISOs, CTOs and other senior executives.   

  • Retailers losing billions to inventory shrink
    The nation's retailers lost a staggering amount of money in 2016 due to shoplifting, organized crime, internal theft and other types of inventory shrink.    Inventory shrink totaled $48.9 billion in 2016, up from $45.2 billion the year before, as budget constraints left retail security budgets flat or declining, according to the annual National Retail Security Survey by the National Retail Federation and the University of Florida. The thefts amounted to 1.44% of sales, up from 1.38%.  

  • Juniper: Retailers brace for $71 billion card-not-present fraud loss
    With fraudulent card-not-present (CNP) transactions on the rise, losses will become staggering over the next five years.    Retailers stand to lose $71 billion globally by 2022, driven by a number of factors, such as the United States' shift to Europay, MasterCard and Visa (EMV) chip cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud. This was according to “Online Payment Fraud: Emerging Threats, Key Vertical Strategies & Market Forecasts 2017-2022,” a report from Juniper Research. 

  • Computer meltdown takes a toll on U.K. grocer’s home delivery service
    A computer glitch is blamed for canceled orders and growing frustrations among Tesco’s home delivery customers.   An IT meltdown impacted orders filtering into the U.K.-based supermarket giant’s online grocery shopping system. The glitch impacted orders being placed online, as well as those scheduled for delivery, according to customer posts on Twitter.  

  • AmEx: Digital security concerns influence purchase behavior
    Merchants may be losing out on potential e-commerce sales due to shoppers’ concerns over the security of their information in the digital world.  

  • Teen apparel retailer caught in security breach
    The Buckle is the latest cyber-crime target.   The teen apparel retailer was alerted that some guest credit card information was pilfered following purchases made at some of its retail stores. The chain launched a thorough investigation, which revealed that store payment data systems were infected with a form of malicious code, which was quickly removed.   
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