One of the biggest hot-button topics for consumers, businesses, and governments worldwide is data privacy and security. And the discussion has gotten that much more heated as high profile cases continue to hit the news. But things are set to get a lot more interesting with the introduction of the European Union’s new General Data Protection Regulation (GDPR), which has just recently taken effect.
In the world of financial transactions, the acronym PCI is the most common term used and refers to the Payment Card Industry. (The longer version is PCI DSS, or Payment Card Industry Data Security Standard.) The Payment Card Industry Security Standards Council (PCI SSC) was created in 2006. Its goal as a global entity is to help improve the security for every aspect of the financial transaction process. In the past the object for security concerns were mainframe computers that could fill a room. Technology has evolved from those huge mainframes to personal computers, to mobile devices such as smartphones and tablets. The ways hackers threaten an entity’s data have changed as well; but of course, the need for protecting that data has remained unchanged. Keep reading to learn more about the PCI security council and avoiding a credit card data breach.
Before we delve into understanding Voice over Internet Protocol (VoIP) and data security on VoIP systems, here’s a quick introduction to PCI DSS payment card data security standards.
The PCI Standard is mandated by the card brands and administered by the Payment Card Industry Security Standards Council. The security standard was created to increase controls around cardholder data to reduce credit card fraud. Validation of compliance is performed annually, either by an external Qualified Security Assessor (QSA) or by a firm specific Internal Security Assessor (ISA) that creates a Report on Compliance for organizations handling large volumes of card payment transactions, or by Self-Assessment Questionnaire (SAQ) for companies handling smaller volumes.
There were 1,579 data breaches with over 178 million records exposed in 2017 alone. That averages about four data breaches a day for the entire year of 2017. Let that sink in for a second. That amounts to a nearly 45% overall increase over 2016 figures. Thankfully, there are ways that you can avoid a data breach, but these figures still lend themselves to have a bit of sticker shock. One way that companies can protect themselves from payment card data breaches is protecting their cardholder data environment (CDE) via PCI (Payment Card Industry) DSS (Data Security Standard) compliance. Any organization or merchant that accepts, transmits or stores any cardholder data must comply with PCI DSS.
Merchants need to protect the cardholder data that they collect and encryption is one of the ways this is accomplished. Encryption by itself is not enough to place data out of scope for PCI DSS. This blog will cover what a cardholder data environment is, how encrypted data is part of that environment, and how encryption fits into the scope of PCI compliance.
The average cost of a data breach in 2017 was $3.62 million with 5,076,479 data records stolen on average every day. In order to protect your company and not fall into one of those costly statistics, it is important to know where the danger lurks. Below we will discuss the ways breaches happen and what steps you can take to try and avoid a credit card data breach.
Credit and debit cards have been around since the 1850s, but weren’t commonplace in American wallets until the 1970s. Why? Because consumers were wary of using them due to the nonexistent security measures and legislative support that was in place at the time. Consumer complaints against this lack of regulation led to the implementation of the Fair Credit Reporting Act of 1970, the Unsolicited Credit Card Act of 1970, the Fair Credit Billing Act of 1974, the Equal Credit Opportunity Act 1974, the Fair Debt Collection Practices Act of 1977. The passing of these acts gave consumers the support and confidence to use their credit and debit cards at a merchant without having to worry about having their data stolen or being discriminated for their transactions.
Cybercrime today represents a threat with a scale and persistence that hasn’t been encountered before. Despite the widespread threat of cybercrime, many people and businesses remain ignorant of the true risks they face and what they can do to combat them. Gaining a greater understanding of the types of cyber crimes can help one understand the importance of cyber security for their business.
Becoming a Qualified Security Assessor, commonly referred to as a QSA, is a relatively grueling process that is in line with the important role that a QSA plays. In this article, we’ll answer what a QSA is, how you can gain QSA designation, and why using a QSA to audit your cybersecurity is something you should be already doing. This information should provide insight into the role that QSA’s play in cyber-security, and allow you to assess whether outsourcing your cyber-security to a QSA designated firm is a good choice given your security needs.
Cyber security compliance audits are an integral part of securing your networks and systems from data theft or other types of cybercrime attacks. Audits are a process through which your information security policy, framework, and implementation are checked and tested to ensure that they meet the standards for compliance. In this article, we’ll go into greater detail on why audits are an important part of maintaining compliance, and how frequently you should be conducting them.