Grocery story hack may fuel Singaporean execs' fears

Business leaders see terrorism, cyberattacks and data fraud as top risks

Grocery story hack may fuel Singaporean execs' fears
attack by hackers on a US grocery giant could cause shockwaves in Singapore by stoking business executives' cyber fears.

A recent study said while most executives around the globe considered unemployment, fiscal crises, failure of national governance, energy price shock and social instability as the top risks they would have to face, Singaporeans were more concerned about terrorism, asset bubbles, cyberattacks and data fraud or theft.

What just happened across the Pacific may fuel that fear. This week, Whole Foods Market said payment card information has been stolen from its beer taprooms, restaurants and other venues located within some of its stores, Reuters reported.

More than 40 Whole Foods stores sell beer on tap. The company did not immediately say how many restaurants are in its stores.

Anticipating public jitters, Whole Foods, recently purchased by Amazon for $13.7 billion, was quick to say it had different point-of-sale system for its roughly 450 US stores and that this system was not involved in the data hack. systems do not connect to the affected systems at Whole Foods, it said, thus transactions also were not involved

The grocer said it is has started investigating the attack, engaged a leading cyber security forensics firm and also contacted law enforcement.

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Singapore execs reveal biggest risks to business
Cyber-crime: what you need to know

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