Is chip and pin answer to retail security?

CLEVELAND, USA: In the days following news that Target's compromise was much larger than originally reported, affecting 110 million customers opposed to 70 million, retailer Neiman Marcus announced that they too were hacked. What followed was a rash of security and retail experts offering up chip and pin technology as a solution to this problem.

Experts at SecureState, a management consulting firm specializing in information security, disagree, stating that technology will not solve this problem; it will only reduce risk.

"It's 2014. We expect retailers of this magnitude to have better security, weigh their risks and spend the resources necessary to secure their data," Ken Stasiak, SecureState CEO said. "They don't because consumers and the government don't demand it, and before we talk about chip and pin businesses have to spend more on security."