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Retailers To Coordinate On Cyber Security

The National Retail Federation is establishing an information-sharing platform to allow retailers to coordinate with law enforcement agencies and partners in the financial services sector to more efficiently access information on cyber security threats.

In the wake of the Target and Neiman Marcus data breaches, Sens. Mark R. Warner (D-VA) and Mark Kirk (R-IL) called for the creation of an Information Sharing Analysis Center to better protect consumer data. “It is important that we continue to strengthen our efforts to protect consumers from cybercrime by enacting smart, targeted protections,” Warner said during a Richmond event to announce the initiative. Earlier this month, Warner and Kirk introduced the Consumer Debit Card Protection Act of 2014, which will increase consumer protections and reduce liability caps when debit cardholders are hit by fraud. Personal liability for credit cards is capped at $50, but debit cardholders can be on the hook for $500 or more.

Warner and Sen. Ron Johnson (R-WI) also have introduced legislation to help alert taxpayers more quickly if they have been victims of identity theft.

Additionally, given that cyber-attacks come from all over the world, Sens. Warner and Kirk recently urged the Administration to require more cooperation by Ukraine with our government and law enforcement in fighting cybercrime. Ukraine is a center of cybercrime activity and is believed to be the epicenter of the Target data breach.


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