By KRYSTLE CHOW
Published in the Ottawa Business Journal newspaper and website.
Feb. 5, 2007
Click here to view this article on OttawaBusinessJournal.com.
While it may seem like these are dangerous times for consumers who shop with credit and debit cards, the retail industry’s players say they are working hard to protect consumer data.
Consumers had a few security breach scares recently, first in mid-December when Winners and HomeSense parent company TJX Cos. discovered that hackers had stolen customers’ credit and debit card information from its network. This was followed by Talvest Mutual Fund’s mid-January announcement that it had lost a backup file containing sensitive client information.
“It’s happening quite often, and it’s worrisome for the consumer,” says bankruptcy lawyer Stanley Kershman of Perley-Robertson, Hill & McDougall LLP. “The consumer has reason to worry because if their information goes out online, it could potentially be used by fraudsters.”
Mr. Kershman says companies must be accountable for these breaches, and that more resources
have to be put into safeguarding consumer information because it’s “really gold.”
“If (the consumer information) were gold, people would put it into a safe and lock it up … they should do the same for this information,” Mr. Kershman comments, adding that hackers realize that accessing that data is “like getting into Fort Knox.”
The retail industry is far from being ignorant of this fact, says Retail Council of Canada spokesperson Derek Nighbor, although Mr. Nighbor acknowledges that the recent incidents have served as a wake-up call for businesses to do more to protect customers. Continue reading →


