Cybercrime is a massive multinational industry that regularly makes many attempts to breach major institutions. Why so many of those efforts have been succeeding lately, on such a large scale, is due partly to how smart an organization needs to be to defend against them.
Malware has become the big bad wolf in cybersecurity circles, and businesses around the globe are quickly buying up the latest detection technologies to protect their IT networks. But that's not enough.
But wait, after the cards were/are compromised, the banks reissue you a new card, they let you dispute any bad transactions and the merchants may offer you a discount to keep you coming back. So, no harm, no foul, right? Not so fast ...
Reality check: Hackers will always go after the weakest link. If they determine that the big guys have toughened up, they're just going to go after easier targets, like small businesses. So what is a small business owner to do?
Now that the impact of the Target data breach has grown from 40 million card members to 70 million, and to perhaps as high as 110 million, prepare for all sorts of mayhem because this data theft is just the start of things to come.
This past month has been an unwelcome reminder that identity theft is on the rise. Target and Neiman Marcus are the two high profile retailers whose networks were breached over the holiday season; however, at least three other well-known smaller U.S. retailers were breached.