A recent Law360 article discusses how a new initiative called the Retail Cyber Intelligence Sharing Center, launched by retailers including Target and JC Penney, will allow the sharing of cyberthreat information, allowing companies to guard against data breaches and negligence claims.

“The centerpiece of the initiative will be an information sharing and analysis center, or ISAC, aimed at facilitating the sharing of data on emerging threats to network security among industry members and with public-sector stakeholders such as the U.S. Department of Homeland Security, U.S. Secret Service and FBI,” reported the article.

The article continued to explain that potential pitfalls could arise from sharing the information such as shared information being used against retailers for regulatory probes and/or private lawsuits that may arise from future security breaches. Sharing data carefully would be a vital part to the program.

“Retailers wouldn't want to share anything involving competitive strategies about a product line, but if your organization has seen some spearfishing attacks coming through or has identified a specific pattern or trend tied to attacks, that information can be shared,” Matthew H. Meade, shareholder at Buchanan Ingersoll & Rooney told the publication. 

Read the full article – “Retailers Face Pitfalls In Effort To Share Cyberthreat Info” (Law360, June 4, 2014)