Technology And The Security Of The Public Confidence

Introduction Imagine going about your weekly errands, making purchases like you normally would when you hand the cashier your card for payment and it declines. You call the bank only to find out that your account has been drained of all its funds. This experience leaves you confused, who, how and why has this happened, and for the most part the answers do not come as quickly as you would, like or even at all. This issue plays out day after day for thousands of consumers as merchant data breaches and compromises have left millions of consumer information exposed. These recent compromises in merchant systems and cyber-attacks have exposed a deficiency in the security used to protect the public. This largely in part to outdated technology and†¦show more content†¦Ã¢â‚¬Å"The hackers use those footholds to crawl through corporate networks until they gain access to the in-store cash register systems. From there, criminals collect payment card data off the cash register systems and send it back to their servers abroad†. (Perloth, N. (2014, August 22, P6). This has led to fall out both from the public as well as industries scrambling to fix the situation before it gets any worse. The recent compromise of Target has exposed a more underlying issue of merchant’s inability to monitor and secure the payment systems and the databases that store consumer card information. When it comes to the technology in place that monitors and secure customer information, there are no active monitoring of the systems. There will need to be an overhaul of the current technology in place by these organizations, if they hope to combat fraud and protect consumers from data breaches and merchant compromises. (Heun, D. (2013). Fall Out From Data Breaches Cyber Attacks have forced industries to assess many areas of security as well as policies and procedures currently in place that protect sensitive information. Companies have lost billions of dollars as part these breaches, as they are forced to reimburse consumers for transactions and exposure of their identities. â€Å"A report by the