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SECURITY EXPERT BELIEVES BANKS, NOT MERCHANTS, SHOULD 'OWN UP' TO RESPONSIBILITY TO PROTECT DATA
DATA: The data breach confirmed by TJX Cos. today is "quite serious" and looks to be
organized, suggests Avivah Litan, an analyst at Gartner Group. She believes the
payments industry needs to recognize that it may be more cost effective to change
the payment system than ask 5 million retailers to comply with PCI data-security
standards. "It's getting old to keep blaming retailers," she says. "The banking
industry needs to own up to this problem and take responsibility directly instead of
shifting it to retailers." Litan suggests using single-use PINs for each debit or
credit card transaction as an alternative. That, she says, would make stolen card
information useless.
Liz Gasster, acting executive director and general counsel at
the Cyber Security Industry Alliance, says that the more than 100 million payment
cards that have been compromised through various data breaches since 2003 says
legislation is needed to enforce comprehensive data security. She suggests the TJX
incident could provide a catalyst for Congress to act on such legislation.
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