Following a large-scale cyber attack on US retail giant Target, retailers plan to set up a platform to share information on cyber threats to defend against hackers

The US National Retail Federation (NRF) plans to launch an Information-Sharing and Analysis Centre (ISAC) in June to help retailers fight cyber crime.

The retail ISAC will provide companies access to information on cyber security threats identified by retailers, government and law enforcement agencies and partners in the financial services sector.

The move follows an attack on US retail giant Target, which lost the credit card details of 40 million customers in a two-week period last December and the names, addresses and email addresses of 70 million customers.

The program, developed in consultation with the financial services (FS) ISAC will launch with the establishment of an information-sharing platform for retail industry information security specialists.

NRF president and chief executive Matthew Shay said: “We believe a heightened and well co-ordinated information sharing platform such as a retail ISAC is a vital component for helping retailers in their fight against cyber attacks.

“Establishing a new program takes time but time is not our friend when it comes to stopping sophisticated and unpredictable criminals.

“The willingness of the FS ISAC to work with retailers provides our industry with a new and important tool as we explore all of the options available for merchants to protect their customers and their businesses.”