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IT-659-Q1436: Assignment 6-2
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Analysis of recent news headlines
Hudson Bay, the parent company of three popular department store outlets
revealed that the payment system had been breached. It also led to the compromise
of the personal information of the customers of the store. According to Gemini
Advisory, a New-York-based security entity, the cybercriminal group – Fin7 or Joker
Stash had succeeded to steal the information relating to five million payment card
details. In fact, out of the stolen data 1,25,000 was already made available on the
dark web for sale (Computerweekly.com, 2018).
The cybercriminal team has gained notoriety for using phishing emails to target
managers and supervisors working at hotels and restaurant chains as well. The theft
of the payment details is surely one of the major cybercriminal activities that can
adversely affect the online experience of the users (Computerweekly.com, 2018). The
business undertakings that are the main target of the cyber attackers are definitely at
the receiving end as their reputation goes for a toss and the customers lose trust in
the brand. The three main retail outlets of Hudson Bay that were the prime target of
the cyber-attack include Lord and Taylor, Saks Off 5th and Saks Fifth Avenue
(Cbc.ca, 2018). The security breach jolted the retail industry and the retailer. ac ac
Cause of the retail chain breach
The cybersecurity breach that affected the retail business was one of the most
damaging cyber-attack incidents of the 21st century. The data bread that took place in
the retail setting could have been averted if the business and its Information
Technology team would not have downplayed the incident that had been going on for
over nine months. The initial breach incident took place a long time ago. It indicates
that the cyber attackers got plenty of time to get access to the sensitive customer
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information. The lack of a proper security system could have played a vital role to
safeguard the confidential payment information of the customers.
There existed several loopholes in the security system of the retail chain which
led to the cyber breach in the business setting. The breach that took place could have
been avoided if there was a secure (Europay, Mastercard and Visa) EMV point of
sales. The lack of the safety net increased the vulnerability of the retail business
chain on the cyber platform. After the business was able to identify the online threat,
it carried out the investigation to control the damage (Chainstoreage.com, 2018).
Steps to resolve the breach
Several steps can be taken for the purpose of resolving the cyber breach that
compromises the business security system and increase the level of vulnerability of
the customers. There is the need to introduce a safe and secure EMV point of sales
so that the unauthorised activities can be checked. Such an approach can play a
crucial role to enhance the retail activities that are carried out on the cyber platform.
I the present times, the cyber attackers mainly use phishing emails for the purpose of
targeting business undertakings that function in different industrial settings
(Japantimes.co.jp, 2018). In order to safeguard the business against such kinds of
cyber-attacks, the business undertakings need to upgrade the security model at regular
intervals so that any kind of unauthorized activity can be identified and effectively
tackled with.
In the current times, cyber breaches can take place various forms which can
have an adverse implication on the businesses as well as the customers. In order to
effectively deal with the cyber breach incident, there is the need to strengthen the
Information Technology infrastructure of the business undertaking so that the effective
resolution of the cyber breach can be made possible.
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The customers must be placed in the central position while designing the
cybersecurity model so that their confidential and personal information can be
safeguarded in the best way possible. In order to do so, businesses need to introduce
free identity protection services such as credit and web monitoring options so that the
customers can be informed about the breach (Chainstoreage.com, 2018). The
customers need to be empowered so that they can identify any kind of unauthorized
activity that can take place in their account. Such techniques can be introduced to
resolve the cybersecurity risks that can arise on the cyber platform.
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References
Computerweekly.com. (2018). Data breaches revealed at four US retail chains.
Retrieved from https://www.computerweekly.com/news/252438076/Data-breaches-
revealed-at-four-US-retail-chains
Cbc.ca. (2018). HBC says data breach lasted up to 9 months | CBC News. Retrieved
from https://www.cbc.ca/news/business/hbc-saks-data-breach-1.4638249
Chainstoreage.com. (2018). Hudson’s Bay Co.: Saks, Lord & Taylor data breach ‘no
longer poses a risk’ |Chain Store Age. Retrieved from
https://www.chainstoreage.com/operations/hudsons-bay-co-saks-lord-taylor-data-
breach-no-longer-poses-risk/
Japantimes.co.jp. (2018). Hackers breach Saks, Lord & Taylor customer data, parent
Hudson's Bay says | The Japan Times. Retrieved from
https://www.japantimes.co.jp/news/2018/04/02/business/tech/hackers-breach-saks-lord-
taylor-customer-data-parent-hudsons-bay-says/#.W-VepnszbIU
