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What can and should a retailer do?


While the Payment Card Industries Data Security Standard (PCI DSS) is a good start, it is a partial answer. The standard deals with the protection of credit and debit card information, but less than one in eight fi rms has achieved compliance with all of the requirements. Regular testing of security systems appears to be particularly demanding for fi rms.


PCI DSS focuses on one single information asset – namely, payment card data. Firms now face a wider range of threats, which demands a broader view of cyber security and a greater degree of engagement from the board refl ecting the growing importance of e-retail.


So cyber security does need to fi nd its place on the board agenda, with the CIO or CISO helping executives fi nd the right balance between digital opportunities and risk.


The basics of cyber security need to be in place, not just technical solutions such as fi rewalls, encryption and DDOS mitigation – but a culture of cyber security within the fi rm with clear leadership from the top, a greater level of employee awareness of cyber security issues, and a willingness to educate customers about their own responsibilities.


Firms need a structured approach to information risk management, but most of all they need to have processes in place to deal with any security incident and restore customer confi dence, including a policy on when and how to notify customers. It would make sense to exercise those processes regularly, rather than waiting for a criminal to do so.


Target has also spawned the creation of a new retail cyber intelligence sharing centre where fi rms can pool information on threats, and has also promoted retailers to consider the security of the suppliers and partners they work with.


Retail security is defi nitely on the radar in the US, perhaps it should be in the UK too.


© 2014 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.


Martin Tyley Director, Cyber Security


T: +44 (0) 113 231 3934 E: martin.tyley@kpmg.co.uk


Martin leads KPMG’s UK regional Cyber Security practice. The UK practice has over 200 cyber security experts working across multiple industries, supporting clients across a range of complex areas to develop effective cyber security controls and protect against an increasingly complex set of threats to the organisation.


RETAILERS NEED TO HAVE PROCESSES IN PLACE TO DEAL WITH ANY SECURITY INCIDENT AND RESTORE CUSTOMER CONFIDENCE, INCLUDING A POLICY ON WHEN AND HOW TO NOTIFY CUSTOMERS. IT WOULD MAKE SENSE TO EXERCISE THOSE PROCESSES REGULARLY, RATHER THAN WAITING FOR A CRIMINAL TO DO SO.


TECH RISK RADAR


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