Retailers Launch Cyber Security Sharing Center to Boost Financial Security

May 21, 2014, Written By Bill Hardekopf
Retailers Launch Cyber Security Sharing Center to Boost Financial Security

The Retail Industry Leaders Association (RILA) has launched a new program to aid stores in preventing and detecting credit card data breaches. It’s called the Retail Cyber Intelligence Sharing Center (R-CISC), and it could  be a very positive step for retailers, banks and consumers.

R-CISC contains information about cyber threats that all the companies in the program can access at any time. Retailers taking part include Lowe’s, Gap, American Eagle Outfitters, J. C. Penney, Safeway, Target, Nike, and Walgreens. Information is also shared with public and private shareholders, such as the Department of Homeland Security, the Secret Service and the Federal Bureau of Investigation.

“In the face of persistent cyber criminals with increasingly sophisticated methods of attack, the R-CISC is a comprehensive resource for retailers to receive and share threat information, advance leading practices and develop research relevant to fighting cyber crimes,” said Sandy Kennedy, President of RILA, in a statement.

R-CISC was created with the input of more than 50 of America’s largest retailers and the help of law enforcement and government agencies. It will soon have a board of directors that will consist of senior retail experts from many of these stores. Together, the group hopes to dramatically improve cyber security throughout the country.

The information contained within this article was accurate as of May 21, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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