Data Security

Best Buy co-founder Richard Schulze will make a fully financed offer to purchase the electronics retailer by the end of the week, possibly on Friday, according to the Star Tribune. A formal proposal to the board of directors before the Sunday deadline is expected to be at least $5 billion to $6 billion. Schulze and his team secured agreements to finance the deal from bankers and private equity investors, which includes Cerberus, Leonard Greene & Partner and the Texas Pacific Group, according to the article, citing an anonymous source.

Benetton is among the few brands that have splurged on the $5,000 a head mannequins that spy on shoppers with facial recognition software. The implanted cameras aren't looking for shoplifters, however. They're logging gender, age and race. The technology, once used to identify criminals at airports, is now used in three European countries and right here in the US of A to help contour shopping experiences based on the creeper mannequins’ findings.

The currently pending Do-Not-Track federal legislation is being proposed to make it easier for consumers to block tracking cookies; however, it has not yet been passed by Congress. In the meantime, the efforts by privacy advocates are beginning to create more consumer awareness of existing web browser tools for deactivating cookies.

Barnes & Noble has revealed that customers shopping as recently as last month at 63 of its locations, including stores in California, Connecticut, Florida, Illinois, Massachusetts, New Jersey, New York, Pennsylvania and Rhode Island, may have had their credit card information stolen. On Sept. 14, 7,000 PIN pads throughout the retailer's locations nationwide were disconnected due to signs of tampering on some of the units. It has been determined that one keypad in each of the 63 stores had been hacked. 

eBay and PayPal may be forced to hand over seller records without disclosing the fact to the sellers. Yahoo's Motoramic blog reported on the unusual legal case brought by Ford involving the alleged sale of counterfeit goods on eBay. "Ford Motor Co. wants eBay and PayPal to turn over data on 13 users the automaker accuses of selling fake or unlicensed Ford parts on the online auction site, including names, addresses and bank accounts — and won a court order blocking eBay and PayPal from revealing Ford's demand to the users targeted." 

Innovations in technology are transforming retail marketing strategies. One of the most promising developments is proximity marketing, an approach that leverages location-aware technologies to drive return on investment and garner priceless consumer insights through the secure broadcast of rich media marketing messages.

Edgy, boundary-pushing boutique Opening Ceremony announced in a letter that "a hacker placed malicious software on our website." The letter — dated May 4 and signed by Carol Lim, CEO and co-founder of the company — says that the incident in question presumably took place on Feb. 16. While the company took security precautions and removed the questionable software after the breach was discovered on March 21, it was more than enough time for the criminals to extract customers' private information.

This year saw record-breaking security breaches against e-commerce sites. Regardless of size and IT security budget, no company is 100 percent immune from risk. Yet the reality is that many of the breaches were preventable. With the busiest online shopping period of the year in full swing, have you made sure your customers’ credit card data and personally identifiable information is as secure as it could be?

Two malls planning to test new technology designed to track shoppers' movements via cell phone signals have nixed those plans after a U.S. senator raised concerns about privacy, according to The Consumerist.

“Your friends at Etsy” sent out an email Oct. 13 alerting Etsy community members to some notable changes in its privacy policy. According to the company’s blog post, the real name change, which applies to both buyers and sellers, is supposed to clarify the difference between a person and a shop.