|January 20, 2015|
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Retailers Rejected by U.S. Supreme Court on Debit-Card Fees
Retailers will have to live with a U.S. regulation they say lets banks
overcharge merchants by $3 billion a year. The U.S. Supreme Court, without
comment, left intact a Federal Reserve rule governing how much banks can collect
for debit-card transactions. The retail industry argued the regulation didn't go
far enough in capping swipe fees at 21 cents per transaction. The use of debit
cards has soared in the last decade. Consumers used them for 47 billion
transactions in 2012, according to federal statistics. Wal-Mart Stores Inc.
alone says it handled more than 3 billion debit-card transactions at its stores
in the last fiscal year. The rebuff is a victory for Bank of America Corp. and
Wells Fargo & Co., the top U.S. debit-card issuers, preserving a
multibillion-dollar revenue stream for the industry. The largest banks earn as
much as 5 percent of their revenue from card fees. The rejection also benefits
the leading debit-processing networks, Visa Inc. and MasterCard Inc.
Why mid-sized retailers often outperform larger chains on cyber-security
While many breaches don't make the headlines, those that did in 2014 had one
thing in common: all of the companies involved were large, national or
international chains. They have complex information security programs with many
"moving parts." This can actually be an Achilles heel of retailers - one that
might give mid-sized retailers a "leg up," as their smaller size and inherent
nimbleness often reduces the possibility of breaches and, as a result, unhappy
customers. Because they perform payment card transactions, all retailers must be
compliant with the Payment Card Industry Data Security Standard (PCI-DSS). One
thing to remember about PCI-DSS is that the larger the merchant, generally the
more resources it takes to support its compliance efforts. Since more time is
needed to complete assessments, the likelihood of the assessed environment
changing during the assessment - leading to inconsistencies in findings and
remediation requirements - increases. Also, because of the complexity of their
infrastructures, large merchants more often than not, aren't able to move
rapidly when it comes to adopting and implementing new technologies that could
reduce the number of systems handling sensitive data. Smaller merchants with
fewer locations can more rapidly deploy newer, more secure versions of software.
Family Dollar to learn fate at Thursday vote - Approval expected for Dollar Tree
deal Family Dollar shareholders will likely approve a deal Thursday to
sell the retailer to Dollar Tree, ending local control of one of the Charlotte
region's most prominent homegrown companies. The drama has stretched on since
July, with Family Dollar fending off a hostile bid from Dollar General to try to
complete the planned acquisition by Dollar Tree. The fight reached a climax last
week when Dollar General said it needs more than a month to figure out whether
the Federal Trade Commission will allow or block its bid. That uncertainty and
Dollar General's decision to not raise its bid likely doomed it, a source with
knowledge of Family Dollar's thinking said. Several analysts following the deal
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The NRF's Threat Alert System &
Both NRF and RILA have been tirelessly working together and separately over the past year to establish efforts to help fight the cybercrime crime wave impacting retailers nationwide. Leaders from both industry groups sit down together with LPNN for an in-depth look at the NRF's Threat Alert System and RILA's Retail Cyber Intelligence Sharing Center. Tom Litchford, VP, Retail Technologies for the NRF, and Suzie Squier, Sr. VP, Member Services for RILA, discuss the latest in cybersecurity, what the two leading retail associations are doing about it, and what role LP executives can play in the fight against this unprecedented threat.
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Target's Canada Venture Hampered by Data Woes
After pumping billions of dollars into a money-losing Canada operation, Target
Corp. said Thursday it would exit the country. Although a number of issues
plagued the retailer, from pricing missteps to poor store locations, Target's
faulty data ownership and reporting practices certainly didn't help matters.
"Our stores struggled with inventory issues and we were not as sharp on pricing
as we should have been," Target CEO Brian Cornell said Thursday. In May, CIO
Journal noted the
data inconsistency issues that likely played a role in Target's troubles.
Reuters reported a number of logistics issues at the time, citing occasions when
barcode data didn't match data in the corporate computer system. That resulted
in goods coming in faster than they were going out, leading to inventory issues
inside stores. Target's woes underscore the importance of clean, consistent data
in the supply chain, particularly in an operation as complex as the retailer's.
"If the numbers don't match then it becomes a garbage-in, garbage-out
situation," Gartner Inc. analyst Stan Aronow told CIO Journal in May.
Technology can aid in the process, but it also requires a human touch, like
maintaining communication with third-party logistics managers and suppliers
through every stage.
The Security Case for Digitalization - a vital but often overlooked piece of the data security puzzle Over the years there have been a growing number of requirements for businesses regarding the protection and management of data. As such, data security has become a major issue for many organisations. At the same time, many businesses have to cope with more information, across more devices, than ever before. Additionally, the combination of physical paper and digital information makes data management and security more complex. Hard-copy documents are one of the weakest links in the document chain. They can be scanned and shared without trace, and electronic documents can be printed and shared in hard copy. It's easier to secure information electronically than through complex paper workflows. As such, digitization can be highly effective in helping enhance enterprise content security. information-age.com
Study: 96% of retailers are ready for the Internet of Things
U.S. states ask JPMorgan Chase for security data as they probe hack
India Hiring 800,000 Information Security Professionals
Sponsored by The Zellman Group
Are Payment-Card Breaches Already Being Reported In 30 Days?
Are businesses that suffer payment-card breaches already reacting to last
week's push by the White House to speed up disclosures? For the third time
in the past week, a notable breach has been publicly disclosed within 30
days. Tennessee-based ValuePetSupplies.com has notified several thousand
customers that its servers were accessed by someone unauthorized, who
installed malicious files to capture customers' personal information entered
on the website, SC Magazine reported. But unlike many such breach
notifications, the one from Value Pet Supplies came just two weeks after the
breach was discovered. According to a letter sent to thousands of its
customers, the information stolen could include names, addresses,
payment-card numbers, expiration dates and CVV numbers, phone numbers, email
addresses and website account passwords. The company said the cyberattack
appears to have taken place on or about Nov. 25, 2014, and the security
professionals it hired to investigate the breach removed the malware and
shut down the data leak by Dec. 29. But the Jan. 12 letter also explicitly
states, "This notice has not been delayed by law enforcement." That marks a
significant change from standard operating procedure for breaches as
recently as six months ago. The U.S. Secret Service and FBI, which
investigate most payment-card breaches because they typically involve
interstate activity, have routinely requested that breach notifications be
delayed while they investigate. State laws that require prompt notification
of data breaches usually allow a delay at the request of law enforcement
men charged in theft of large quantity of Rogaine in NYC Two men from
New York City suspected of stealing large quantities of Rogaine from drug stores
across the state were arrested Sunday evening while allegedly attempting to
steal over-the-counter medicine from the CVS Pharmacy. Bryant Kirkman, 33, and
Kevin Ballard, 26, both of Brooklyn, NY, were each charged with third-degree
larceny, conspiracy to commit third-degree larceny, possession of a shoplifting
device and organized retail theft. After both men were arrested Sunday evening
outside the CVS Pharmacy at 839 E. Main St., police found $2,658 worth of stolen
goods in their vehicle, “a bulk of which was Rogaine,” said police spokesman
Sgt. Darrin McKay. “Once we were in the car, we found out they had been doing
this all over the place,” McKay said. “A lot of the stuff had original store
tags.” Police found stolen merchandise from drug stores in Berlin, Bloomfield,
Windsor and Manchester, McKay said. Authorities from each town confirmed the
items were missing. “We were able to close out a lot of cases,” McKay said. An
off-duty police officer was shopping at CVS Pharmacy Sunday evening, he said. A
security officer at the pharmacy recognized the officer and told him he
suspected a man in the store was trying to steal over-the-counter medicines,
McKay said. The officer called for back-up and continued following the man,
later identified as Ballard. Police later found that Ballard had a shopping bag
lined with metal, a device used to conceal stolen items from store security
sensors, McKay said.
Employees arrested after stealing more than $6K in Midland, TX Two employees at a Midland retail store were arrested this month after allegedly stealing more than $6,000 in items and cash linked to fraudulent returns, according to court documents. Nilson Gomez, 21, of Midland was charged Jan. 13 with the state jail felony of theft between $1,500 and $20,000. Marianna F. Maya, 20, of Midland was also charged Jan. 13 with the state jail felony of theft between $1,500 and $20,000. Both Midlanders posted bond and were released from custody last week, according to court documents. The retail store’s manager told police Jan. 13 that Gomez and Maya “fraudulently returned items by keeping the receipt from customers, then doing a return without actually returning the item to get the money back,” according to their arrest affidavit. mrt.com
Nashua, NH woman accused of stealing from several stores; Woman faces felony theft charge A Nashua woman has been accused of shoplifting from nearly half a dozen stores over the course of two days. Police were contacted by a Kohl's employee, who caught 60-year-old Denise Doucette walking out of the store with several items. Officers determined she had stolen from four other stores the day before. Authorities said Doucette took more than $1,500 worth of items, so she is facing a felony theft charge. wmur.com
Ex-Phoenix Suns player set to be sentenced in Organized Retail thefts case
Former Phoenix Suns forward Richard Dumas faces sentencing in a case stemming
from thefts from a store on a military base. The 45-year-old pleaded guilty Dec.
11 to theft-related charges. He's scheduled to be sentenced Tuesday in Maricopa
County Superior Court. Authorities say Dumas stole about $800 worth of
merchandise from a Luke Air Force Base store while working with a janitorial
service in 2012. They say Dumas was seen on surveillance cameras taking
cigarettes, alcohol, food, DVDs and shoes. Dumas originally pleaded not guilty
to eight felony charges of organized retail theft. He later reached a plea
agreement. Dumas played for the Suns from 1992-1995 and helped Phoenix reach the
NBA Finals in 1993. He was waived by the team after missing a drug test.
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Store owner fires shots during smash-grab Rolex robbery in Philadelphia
Police are looking for three men who smashed jewelry cases to rob a Willow Grove
Park Mall store of high-end watches, leading the shop's owner to fire gunshots
into the ceiling. Abington police said the three suspects began using small
sledgehammers to smash cases containing Rolex watches at Precision Watches &
Jewelry at about 7:30 p.m. Monday. They reached into the case and stole several
watches. The store owner, fearing for the safety of himself and his employees,
fired two shots from his handgun into the ceiling, according to police. The
three startled suspects then ran from the store. Officials said the unidentified
store worker was licensed to carry the handgun. One of the robbers cut himself
while reaching into the jewelry case, police said. No other injuries were
reported. Authorities didn't disclose how many watches the suspects took or the
value of the items.
Florida mall reopens after shooting that left 2 dead
A woman who survived a shooting at a central Florida shopping mall is helping
authorities with their investigation. Melbourne Police say 33-year-old Idanerys
Garcia-Rodriguez remains hospitalized in good condition, but has been
cooperating with detectives. Shots rang out in the food court of the Melbourne
Square Mall on Saturday morning. Police say Garcia-Rodriguez's husband, Jose
Garcia-Rodriguez, was the gunman. He's accused of shooting his wife and
36-year-old Leonardo Coppola before turning the gun and fatally shooting
Cam Connections Finalizes Stock Sale
President and CEO Robert Bull Purchases Other Half of the Company From Former CEO Christopher Lesnewski
Cam Connections Inc., one of the fastest-growing security dealers
and integrators in North America, has announced a change in ownership. Robert
Bull, President and CEO of Cam Connections, Inc., has completed an agreement to
purchase all remaining shares of Cam Connections stock from former CEO
Christopher Lesnewski, who stepped down from the company on December 31, 2014 to
start another business.
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