2 Jun 2015
The National Retail Federation recently presented Congress with a set of solutions aimed at better protecting consumers and helping businesses prevent data breaches. “We should not be satisfied with simply determining what to do after a data breach occurs,” NRF senior vice president for Government Relations David French said in a statement. “Instead, it is important to look at why such breaches occur and what the perpetrators get out of them so that we can find ways to reduce and prevent not only the breaches themselves but the follow-on harm.” French presented the proposals during his testimony before the House Oversight and Government Reform Committee’s Subcommittee on Information Technology. Here’s a brief overview of its solutions and goals:
- Expanding consumer liability protection when using debit cards
- Issuance of PIN-and-Chip cards that incorporate both computer microchips and use of a personal identification number (PIN) to authenticate a transaction
- Adoption of end-to-end data encryption throughout the entire payments system
- Developing open source, competitive tokenization standards to replace sensitive data with unique and unusable tokens
- Passage of a uniform nationwide breach notification law applying to all entities that handle sensitive customer information
- Bolstering federal law enforcement investigation and prosecution of cyber criminals.