Retail Fusion

Fraud/loss prevention supplement Cloud exposure Feeling the heat Focus on loss prevention, CNP fraud For retailers of all shapes and sizes, IT outsourcing sector has undergone and PCI DSS the cloud is more and more appealing major change in the last 10 years July 2014 First choice for technology purchasers in multi-channel retail Retail fusion In-store media in a rapidly changing retail world Online: www.retail-systems.com Twitter: @RetailSystems LinkedIn: Retail Systems Readers Group cover.indd 1 17/07/2014 10:30:48 RS [ comment ] Failure to get a fraud strategy in place will prove a bitter pill to swallow he numbers speak for themselves, know who is actually logging into your customers’ accounts? says Experian retail client director Often without realising it, consumers can fall prey to phishing Charlie Connor. In all likelihood attacks and unwittingly disclose the virtual keys to their online 2014 will be a tipping point, given the accounts. No one wants to turn away legitimate transactions Texponential explosion in demand for mobile, evidently from loyal customers - but with revenue, reputation hand-held devices and high-end smartphones. and brand at stake, no one can afford to ignore the potential Retailers, ecommerce outlets and online risk. organisations failing to get a viable optimised But knowing and spotting your enemy early offers a huge tablet strategy in place are likely to find it advantage. As attackers grow increasingly sophisticated, it is proves a very bitter pill to swallow when they virtually impossible to identify fraudulent online transactions miss out on opportunities to the competition. without being able to accurately identify the mobile device It’s already a hugely competitive marketplace behind the transaction. Clear visibility into fraudulent attacks amid rising demand for larger-screen is difficult with the anonymity of the web, but transactions smartphone / PCs that bridge the gap between underpinned by reliable device intelligence helps provide smartphones and smaller tablets. At the same greater protection. time, analysts predict tablet prices to steadily Trust your fraud team’s instincts. They’re in the frontline in the decline, further powering mass-market fight against fraudsters and during periods of increased activity adoption. But irrespective of mass-market will have a sound sense of erratic or irregular transactions and demand for faster, easier, ‘friction-free’ online trading patterns. access, behind the scenes we are also fighting a Don’t skimp on investment in your entire online estate. It’s sophisticated, interconnected, resourceful and your shop window and particularly given the exponential rise in growing army of digital fraudsters. demand for mobile commerce, it’s likely to be your most cost- Breaches pose serious dangers to all effective and lucrative income stream for the foreseeable future. consumers, retailers and ecommerce platforms Mobiles and hand-held devices offer enormous opportunities alike. It’s clear ecommerce is often at the thin and a host of innovations are already proving to be a huge end of the global threat. They are the richest benefit, particularly online platforms which allow customers source for payment and identity data and to directly submit proof of identity in an instant, by taking a also offer legitimate-looking opportunities to photo of documents on their smartphone or other device, rather quickly monetise, move and cash-out any ill- than being obliged to rely on lengthy manual and paper-based gotten gains. Sadly, many organisations are still checks. to deploy effective defences against this unseen, Even after a fraud attack has happened, risk can still be unregulated and networked enemy. managed. Arming your ecommerce site with a layered security When a fraud attack is spotted, organisations strategy that includes device intelligence to block compromised need to quickly complete a forensic review, card use, fraudulent enrolments, phishing attacks and attempted identify and clarify the points of vulnerability, account takeovers, will always be worth the investment. analyse precisely what data was stolen and how the fraudsters got away with it. The About the author – Charlie Connor initial scope of investigations quickly expands Charlie is a Director at Experian, where he heads the company’s into something much larger – especially if retail and financial services teams. Based at the company’s regulators and politicians wade in. Complete London offices, he is hugely experienced in overseeing the visibility of all customer data and transactions delivery of fully compliant solutions for customer acquisition, across all channels is critical. Keep drilling- validation, age and ID verification, payment channels, fraud down until the root cause can be identified and prevention, device intelligence and anti-money laundering protected against any repeat attacks. technology. For many retailers this level of deep and vw consolidated insight rarely exists. Do you really 02 July 2014 www.retail-systems.com experian.indd 2 18/07/2014 09:51:25 Fraud/loss prevention supplement Cloud exposure Feeling the heat Focus on loss prevention, CNP fraud For retailers of all shapes and sizes, IT outsourcing sector has undergone and PCI DSS the cloud is more and more appealing major change in the last 10 years July 2014 First choice for technology purchasers in multi-channel retail Retail fusion Cover story [contents] In-store media in a rapidly changing retail world Online: www.retail-systems.com Twitter: @RetailSystems LinkedIn: Retail Systems Readers Group 26 cover.indd 1 17/07/2014 10:30:48 [ ] Editor Scott Thompson [email protected] Deputy Editor Michelle Stevens [email protected] Retail fusion Contributing writers The retail landscape is changing David Adams, Glynn Davis, Liz Morrell, rapidly and in-store media has Kate O’Flaherty, Hannah Prevett responded accordingly Design & production Jason Tucker Features [email protected] [ ] Advertising [28] [36] Lisa Gayle FEELING THE HEAT CLOUD EXPOSURE [email protected] The IT outsourcing sector has undergone For retailers of all types and sizes, the cloud is Sonia Patel significant change, Hannah Prevett observes becoming more and more appealing [email protected] Circulation [32] Joel Whitefoot SECURITY REVIEWED [email protected] Retailers and FIs sounded off on various issues and Subscriptions challenges during the Keynote Theatre sessions at 01635 588 861 [email protected] Infosecurity Europe 2014 Subscription rates £98 p.a. in the UK £140 p.a. elsewhere Cheques made payable to: Supplement Perspective Publishing Limited and [ ] addressed to the Circulation Dept. [18] [22] Main switchboard: INVALUABLE TOOLS A LONG ROAD 020 7562 2401 David Adams looks at the solutions to an age old Retailers are still struggling with PCI standards 10 Advertising telephone: problem for retailers years after launch. 020 7562 2400 Kate O’Flaherty reports Managing Director John Woods [20] Publishing Director Mark Evans NEW THINKING Postal address: The retail sector has, whisper it, emerged victorious Perspective Publishing, in the fight against CNP fraud. Glynn Davis looks Sixth Floor, 3 London Wall Buildings, London, EC2M 5PD at the key factors behind this Also in this issue 10,000 average net [ ] circulation for the period Jan to Dec 2013 [04] Editor’s letter [12] Roundtable review [40] BRC conference review [06] News at a glance [16] Retail worlds [44] Market guide All rights reserved. The publishers do not necessarily [08] General news [30] Profile [51] Signing off agree with the views expressed in this journal. [10] News and analysis [35] Diary ISSN 1369-5037 Printed by Warners (Midlands) plc All rights reserved July 2014 03 03_contents.indd 1 18/07/2014 09:54:33 RS [comment ] ] [ editor’s letter Sailing towards a new era Our Editor, Scott Thompson, just spent a week experiencing the pros and cons of a cashless society recently returned from a P&O popular as ever amongst consumers. cruise around the truly beautiful Looking at some other recent research, Norwegian fjords. Never been? You awareness of contactless payments in really should. But I digress...This was the UK is on the up, according to eDigi- my first time on a cruise ship and I talResearch’s latest Contactless Payment wasn’t expecting to get material for my next Index results. After years of hype but little IEditor’s Letter from it, but as I boarded substance, 58 per cent of the consumers the vessel I noticed that a cash free system surveyed report seeing a contactless pay- was in operation. Passengers register a ment point or symbol, an increase from credit or debit card at check in and are just 15 per cent in 2012. Concerns around given a Cruise Card (which also serves as security, fraud and technical issues remain their pass on and off the ship and as their a key barrier to widespread adoption, cabin door key). They then produce the however. Whilst interested parties must card when buying drinks, duty free goods, also challenge people’s perceptions of gifts etc in the ship’s many, many bars and the technology, as well as alter consumer shops. It’s a payments model that worked behaviour. Seventy one per cent of the 43 perfectly well and was in use by a wide age per cent who said that they’re not inter- range (the stereotype of cruises being for ested in using contactless cards felt that the old duffers no longer holds true...yes, there technology is just not necessary. were old people onboard, but also many So, whilst the death of cash might be a young couples and families with children). reality on the high seas, it’s far from the The only downside came when my final case on the High Street. Speaking with statement was delivered to the cabin on the my consumer hat on, cards and notes and last night.

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