Security Landscape for European Retailers

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Card fraud is taking its toll on merchants of all sizes throughout Europe. This Infographic shows how customers are responding to retail data breaches and what merchants can do to protect themselves and their customers.

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Security Landscape for European Retailers

  1. 1. EUROPEAN PAYMENT SECURITY LANDSCAPE FOR RETAILERS THE THREAT THE IMPACT CONSUMERS HOLD RETAILERS RESPONSIBLE TOP 4 WAYSMERCHANTS CAN PROTECT AGAINST FRAUD: CARD FRAUD IS INCREASING IN NEARLY EVERY COUNTRY IN EUROPE.i • 1 in 4 people globally have experienced card fraud over the past 5yrs.ii • In the UK, 7.4p per £1 is attributed to payment fraud.iii • With 24% data breaches, retail and hospitality is the 2nd most targeted sector. The 1st being the financial organisations.iv • 64% of organisations attacked took more than 90 days to detect an intrusion.v • The average time for fraud detection was 210 days.vi • 48% of consumers believe retailers alone should be blamed for any data breach.vi • 28% of consumers think that retailers should share the responsibility.vi • Data breaches rank alongside poor customer service and environmental disasters as one of the top 3 reasons a brand reputation can suffer.vii • In 2013, the average cost of a data breach increased 15% to $3.5 million.viii ! ! 1. PCI DSS 3.0 compliance Provides a critical baseline of security. Scheduled to be mandated from 1st July 2015. 3. Tokenisation A unique placeholder ‘token’ is used to identify the customer for repeat sales or marketing purposes so no sensitive card data is stored. 2. Point to Point Encryption (P2PE) Protects cardholder data from point of capture to the payment gateway, minimising vulnerabilities and reducing PCI scope. 4. Detection monitoring Real-time transaction monitoring that provides early warning of suspected fraudulent activity. i FICO, 2013 ii ACI/Aite poll, 2014 iii UK credit and debit card statistics, creditcards.com, 2014 iv Data Breach Investigations Reports, Verizon, 2013 v Trustwave, 2014 vi Faces of Fraud, BankInfoSecurity, 2014 vii The Aftermath of a Mega Data Breach, Experian, 2014 viii 2013 Data Breaches: All You Need to Know, Infosec Institute, 2014 For more information visit www.verifone.co.uk/P2PE

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