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Running Head: NEWS ANALYSIS aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aa aaa aaa aaa a aaa aaa aaa aa aaa aaa aaa aaa aaa aaa aaa aaa
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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. aaa
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
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access to the sensitive customer 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
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strengthen the Information Technology infrastructure of the business undertaking
so that the effective resolution of the cyber breach can be made possible.
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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aaa aaa aaa aaa aaa aaa aaa aaa aaa aa aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa a aaa a aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aaa aa aaa aaa aaa aaa aaa aaa
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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
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