Is your pharmacy risking a Target-level security breach? Target’s recent scandal has many businesses wondering, could I be next? It is especially important for highly and/or federally regulated companies, such as outpatient and retail pharmacies, to take preventative action. With some precautions, however, companies can avoid a similar financial and legal nightmare. Here’s what pharmacies need to know:
Credit Cards with Magnetic Strips Are a Problem
The magnetic strips — located on the back of all major credit cards — may have been partially to blame for Target customers’ stolen credit card information. “Industry leaders know magnetic stripes are outdated and easily exploitable. The rest of the world moved on to a more secure, harder-to-hack payment system based on chip-enabled cards — chip and PIN. Chip-enabled cards are more secure because the data on the chip are hidden behind encryption. So even if criminals intercept what’s on it, they can’t reuse it,” NPR reports.
MasterCard and Visa acknowledge the necessity of switch to chip and PIN cards. Business Insider adds, “Every credit card in the U.S. will be replaced by October 2015 with new cards that contain the chip-and-PIN technology that the rest of the world has had for years.”
Hackers Target Outdated Software
Retailers and pharmacies, however, are not completely off the hook. Credit card companies can only do so much. The rest is up to businesses. Businesses can prevent security breaches by upgrading software and/or purchasing the latest point of sale systems.
It is especially critical to maintain pharmacy POS software. True — just like any other POS system — pharmacy point of sale systems protect patrons’ information. Pharmacy POS systems, however, also help track medications and prescriptions.
Keep patients and customers credit card number and personal information safe. Encourage consumers to talk to their credit card provider for a more secure form of payment, and always upgrade to the latest systems and pharmacy POS software. Get more here: Pharmacy pos software