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4/24/2014 - Business owners not so worried about credit card security


In a recent survey, more than two-thirds of the 1,400 retail business owners who responded to the poll said that they weren't worried about credit card security at their companies.

Despite the consumer and financial safety alerts that were raised following security breaches at retail giants like Target and Neiman Marcus, a surprisingly large number of entrepreneurs in this industry aren't altogether worried that something similar might happen to them, according to a newly released survey.

More than two-thirds of the 1,400 retail business owners who responded to the poll said that they weren't worried about credit card security at their companies, Newtek Business Services reported, which commissioned the survey. Furthermore, more than six in 10 indicated that they weren't aware of new technology that may help prevent similar hacking attempts from working should they occur in the future.

Barry Sloane, president and CEO of The Small Business Authority, which is affiliated with Newtek, noted that the results of the poll are rather startling, given the pervasiveness of information systems being compromised.

"With data and security breaches increasing in intensity and frequency, it is surprising, but revealing, that independent businesses are not having the concern they should over their own cyber security," said Sloane. "It is the 'It's not a problem until it happens to you' attitude that is concerning."

Earlier this year, a separate poll found that many consumers are worried about security breaches. However, when asked if they had done anything about it to protect themselves, less than four in 10 said that they had, such as by using cash for purchases more often, according to The Associated Press-GfK Poll.

Selective offers a high quality cyber liability protection plan for business owners called CyCurity®. This coverage provides entrepreneurs a sense of security that should they experience a cyber-loss or security breach they'll have the support to rebound quickly and efficiently.


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