The Retail Industry Leaders Association (RILA) issued the following statement in response to confirmation of cybercriminal activity targeting The Home Depot.
"Retailers place extremely high priority on protecting customers from the harm cyber criminals can cause. As we have seen, the increasingly sophisticated threat posed by cyber criminals is not unique to any one business, institution, industry or government. Any organization connected to the debit and credit card ecosystem faces constant and evolving threats. That is why the public- and private-sector must continue to work together to improve debit and credit card security, identify threats and share information to best defend against cyber attacks," said Sandy Kennedy, President of RILA.
Cyber-criminals are persistent, their methods are increasingly sophisticated and no industry, institution or government is immune from attack. The latest reports only reinforce the size of the threat and the importance of continued collaboration. In January, at the direction of the RILA Board of Directors, the association launched the RILA Cybersecurity and Data Privacy Initiative, a comprehensive initiative that has since brought together public- and private sector stakeholders to improve cyber threat information sharing and enhance collaboration with banks and card networks. The initiative also endorsed Universal PIN Security and Chip-based Smart Card Technology and the elimination of the antiquated magnetic stripe technology in place today.
As part of the initiative RILA led the formation of a partnership between the merchant community and the financial services industry aimed at strengthening cybersecurity throughout the electronic payments ecosystem. In addition, RILA and some of America's most recognized retail brands announced the formation of the Retail Cyber Intelligence Sharing Center (R-CISC), a non-profit corporation launched by leaders in the retail industry, to promote cybersecurity and data privacy through all appropriate means.
Merchant Financial Services Partnership
The partnership, which was announced in February, brings together representatives from across the electronics payments ecosystem to explore paths to further increase information sharing, update card security technology, and maintain the trust of customers. Founded by the Retail Industry Leaders Association (RILA) and the Financial Services Roundtable (FSR), the initiative boasts involvement from the American Bankers Association (ABA), the American Hotel & Lodging Association (AH&LA), The Clearing House (TCH), the Consumer Bankers Association (CBA), the Financial Services Forum (FSF), the Food Marketing Institute (FMI), the Electronic Transactions Association (ETA), the Independent Community Bankers of America (ICBA), the International Council of Shopping Centers (ICSC), the International Franchise Association (IFA), the Merchant Advisory Group (MAG), NACHA, the National Association of Chain Drug Stores (NACDS), the National Associations of Convenience Stores (NACS), the National Grocers Association (NGA), the National Restaurant Association (NRA), and the National Retail Federation (NRF).
Retail Cyber Intelligence Sharing Center (R-CISC)
The Retail Cyber Intelligence Sharing Center (R-CISC) is a non-profit corporation launched by leaders in the retail industry, to promote cybersecurity and data privacy through all appropriate means.
Developed with the input of over 50 retailers, the R-CISC consists of three components:
- Retail Information Sharing & Analysis Center (ISAC): bringing retailers together for omni-directional sharing of actionable cyber threat intelligence, and functions as a conduit for retailers to receive threat information from government entities and other cyber intelligence sources.
- Education & Training: working with retailers and partners to develop and provide both education and training to empower information security professionals in retail and related industries.
- Research: looking to the future, undertaking research and development projects in partnership with academia, thought leaders, and subject matter experts in order to better understand threats on the horizon.
To learn more visit www.R-CISC.org