A summary of the full article...
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Heartland CEO Robert Karr talks about the infamous credit card security breach. In July of 2009 over 100 million credit cards were compromised along with 650 financial services.
"It’s become common knowledge that being PCI compliant is not enough. Besides that, you have to be ‘vigilant’ and need to be monitoring your systems 24/7. We were declared compliant one day and breached the next." CEO, Robert Karr.
...the data breach to the “enormous” financial implications (the company lost $400 million in value before rebounding a bit — now its worth is $200 million lower than before the breach)
Carr gave attendees a bit of a wake-up call. Retailers who were still feeling “really good” about their security should answer these five questions, he said:
1) Do you have any terrific service people who save data against company policy to help customers – no harm intended? “When we did some analysis of our system, we learned that many of our customer service people would store data off somewhere so they would have it when customers called back the next day,” he said. “We found millions of card numbers all over the place in places we would never imagined existed. You may have a lot of data out there you’re not aware of. ”
2) Do you have any IT people who work around some of the inconveniences of required security that are admittedly good for everyone else?
3) Do you have any C-Level folks who don’t want to follow stringent password or other security policies so get hard-coded work-arounds?
4) Are you certain there is no Black Hat in your employ?
5) Do you have any employees or consultants with access who might be tempted with a bribe?
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The PCI Compliance deadline continues to pound. Rest assured Red Cheetah is running swiftly so our entire dealer community can capitalize on a system that is PCI compliant.
I also think point number 1 is the most serious issue all dealers need to be aware of. We sure are.
Until next time...
Steve Kahle
Partner - Red Cheetah
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