Does Macy’s tell Gimbels? Okay Gimbels, a major retailer and one of Macy’s chief competitors, has gone the way of the Oldsmobile, Blockbuster and Windows XP. But at one time “Does Macy’s tell Gimbels?” was another way of saying “top secret;” competitors don’t share information with the competition.
Now, with the Target, Neiman-Marcus, Michaels and other retail breaches fresh in their minds and with pressure from Congress to improve security, U.S. retailers have taken a major step toward improving security.
In a story on zdnet.com, Natalie Gagliordi reports that the National Retail Federation (NRF) in consultation with the Financial Services Forum for Security Threats is establishing a retailer-specific Information Sharing and Analysis Center (ISAC). This joint cybersecurity cooperative would offer retailers access to “critical information on threats identified by fellow retailers, government agencies, law enforcement and partners in the financial services sector.”
NRF President and CEO Matthew Shay said, “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.
“Establishing a new program takes time, but time is not our friend when it comes to stopping these sophisticated and unpredictable criminals. 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.”