The Payment Card Industry Data Security Standard, also known as PCI DSS is a thorough process that reviews a company’s systems and policies for handling and storage of sensitive consumer cardholder data.
We know how complicated and resource-consuming it can be to comply with the standards set up by the PCI (Payment Card Industry) Security Standards Council. It’s not surprising that less than 1 in 5 businesses (around 18%) assess their PCI DSS controls more frequently than is required by the regulation. However, things become a lot easier and streamlined with PCI DSS gap assessment.
The rules set forth by PCI-DSS can seem complicated. Four levels, 12 requirements, multiple credit card brands: it’s easy to get lost in the details of PCI-DSS requirements. However, merchants who fail to meet the PCI compliance standard face heavy consequences. Not only do these companies put their customer data at risk, they also may face hefty fines that can range from $5,000 to $100,000 per month.
Data security and privacy are today a prime focus for most organizations globally. While there have been several regulations and standards introduced to improve data security, the evolving landscape makes it challenging for organizations to stay compliant. For many organizations, GDPR and PCI DSS are the first topics that come to mind when privacy is concerned.
As organizations move their infrastructure to the cloud, payment data are being exposed unknowingly leading to high profile data breaches. Find out how the new guidance from PCI Security Standards Council (PCI SSC) and Cloud Security Alliance (CSA) can help protect your cardholder data in the cloud.
PCI compliance isn’t just good for customers; it’s also good for business. Merchants that fall short of PCI compliance standards not only put their customer data at risk, they also may face hefty fines. The PCI Compliance Guide reports that fines and penalties can range from $5,000 to $100,000 per month for the merchant.
