“A lot of these breaches happen because somebody had a very obvious detail that they overlooked or a well-known vulnerability that was exploited,” cybersecurity expert Stephen Boyer told CNBC. Noting 2016 breaches at Neiman Marcus, Vera Bradley, Kohls, and Wendys Boyer said large businesses need to increase their protection for the sake of themselves and their customers.
Still, the financial services sector has the best precautions, as they have a very good culture of risk management. But small businesses, especially in retail, tend to struggle when it comes to protecting their information.
However, the solution isnt to scratch smaller retailers off your shopping list, Boyer said, noting that part of the responsibility falls on consumers to monitor their credit cards for fraudulent charges.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now