The retail industry is generally considered to be an indicator of economic trends, so it should come as no surprise that many similar issues are arising in this industry. Several announcements of store closings have been made and large retailers have recently entered into bankruptcy proceedings.

One thin silver lining of the slowdown in retail, at least for savvy shoppers, is the growth of inventory liquidations and sales everywhere with unbelievably low prices. The low prices and sales appeal to consumers' ears (and wallets) until one starts to think about paying for this merchandise, which is, of course, almost entirely through credit cards.

What happens to the credit card data after the purchase from a store that is going out of business? Is that part of the sale as well? The thought of financial information leaving a Point of Sale (POS) system, which is known to be one of the weakest links in the payment operations world, ending up with someone who purchased this POS system is disturbing. (See also .) In addition, news reports everywhere claim online sales were on the rise in stores that were going out of business. Therefore, the risk to personal data and credit card numbers may be at an all time high. Is your information up for sale?

Will Retailers Keep Security in Mind--Even When Going out of Business?

The New York Times recently had a headline, . With shoplifting on the rise, it should come as no surprise that we're also seeing an increase in cyber-theft as well. The responsibility of safeguarding the customer's financial information is still the responsibility of the closing store or the ailing financial institution. But who is really accountable and are there any regulations?