Top stores attacked over ID security
Some of Britain's biggest retailers are dragging their feet over improving protection of customers' financial details, claim computer security experts.
Banks are increasing the fees they charge some High Street names by up to £5,000 a month to force them to upgrade to industry security standards.
At the same time, Visa Europe told Financial Mail that it was tackling banks that were not driving their retailing clients to improve security standards.
A spokesman said: 'Where merchants have not made sufficient progress towards meeting the standard, Visa Europe has used its compliance powers to assess penalties against the retailers' banks.'
One source suggested that the credit card payments system is levying hefty fines on banks that are not pushing hard enough.
Minimum agreed standards include everything from password protection on laptops and physical security of computer rooms to highly technical requirements for software and databases.
The standard was originally supposed to be rolled out in 2005, according to Paul Vlissidis of software security specialist NCC Group. 'It clearly didn't happen,' he said, 'but the theft of a huge number of credit card details from T.K. Maxx last year has given new impetus.
'The new deadline is June 30. The FTSE 100 retailers are either validated or working towards it. But there are some household names that don't seem to like spending the money.'
Visa Europe said its ordinary consumers should not panic. 'The vast majority of transactions in the UK are made with retailers that have either demonstrated their compliance with the standards or are addressing the security risks,' it said.
It added that even if customers' details were captured, consumers would be reimbursed for losses that were not their fault.
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