We are living in an age where commerce moves at incredible speed, utilizing evolving innovative technologies. However, these innovations are being met with sophisticated hacking techniques, a rise in malware and pervasive fraud. Still, card transaction infrastructures are generally safe; so while the industry works to stay ahead of hackers, it's also important to reassure consumers about the measures the industry takes to mitigate risks.

While credit and debit card breaches in the retail industry are rare, singular incidents are now encompassing more consumers, with the recent Target episode believed to have compromised more than 110 million customers. According to the Consumer Bankers Association and CUNA, costs associated with the Target security breach are already more than $200 million.

Last year, Symantec's 2013 Norton Report revealed that the global price tag of consumer cybercrime is $113 billion annually. While the form of digital pickpocketing recently seen at Target and other retailers does not represent all cybercrime, it is clearly a form of fraud causing tremendous damage. It is a risk consumers, retailers and the financial services community must recognize, but steps can be taken to provide all involved with greater peace of mind.