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The National Retail Federation (NRF) has unveiled a new program designed to provide access to information on cybersecurity threats identified by retailers, government and law enforcement agencies and partners in the financial services sector.
Developed in consultation with the Financial Services Information Sharing and Analysis Center (FS-ISAC), the program will launch with the establishment of an information-sharing platform for retail industry information security specialists, and plans a call for a retail ISAC to be established in June.
“We believe a heightened and well coordinated information sharing platform such as a retail ISAC is a vital component for helping retailers in their fight against cyber attacks,” NRF President and CEO Matthew Shay said.
“Establishing a new program takes time, but time is not our friend when it comes to stopping these sophisticated and unpredictable criminals,” Shay continued. “The willingness of the FS-ISAC to work with retailers provides our industry with a new and important tool as we explore all of the options available for merchants to protect their customers and their businesses.”
Responding to the NRF announcement, Senator Mark Warner (D-VA) said, “Establishing a Retail and Merchant ISAC will allow the industry to better share information that could help prevent the types of widespread consumer data thefts we now are seeing. I am pleased to see FS-ISAC collaborating with retailers to establish a tool for real-time sharing of information and best practices around the serious and growing threat of hacking, cyber and identity theft.”
In early February of this year, Senators Warner and Mark Kirk (R-IL) called for the establishment of a Retail and Merchant Industry ISAC in a letter to the Federal Trade Commission.
As announced in January, the NRF is working closely with the cybersecurity professionals from The Chertoff Group, providing NRF members with the highest level of insight and guidance in risk management and cybersecurity expertise.
Washington, D.C.-based NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries.