If your business is responsible for credit card payment processing, PCI DSS complies with the essential component of customer credit card protection and protects your business from the destructive consequences of a data breach.
The sad reality is that credit card fraud is on the rise, and according to the Federal Trade Commission’s Consumer Sentinel Network, credit card fraud reports increased 104%. Maintaining credit cards with data has never been more important. , and PCI DSS lays the foundation for the robust security measures required to maintain this logical data. This document explains how PCI DSS works, to whom it applies, and what steps you need to take to implement it.
What is PCI DSS?
The Payment Card Network Data Security Standard (PCI DSS) is a set of security measures designed to reduce the risk of credit card fraud and increase the security of payment card data. Created in 2004 by four major credit card companies: Visa, Mastercard, Discover, and American Express. PCI DSS has been developed over the years and is now regulated by the PCI Security Standards Council (PCI SSC). PCI defines and adjusts SSC standards, and maintenance is performed by private credit card companies.
Who meets the PCI DSS standard?
PCI DSS industry applies to any https://www.verygoodsecurity.com/compliance-solutions/pci organization that stores execute or transmits data containing cards. To determine compliance requirements applicable to individual businesses, PCI SCC has developed a four-tier system that captures businesses based on market size and risk.
Level 1 – Merchants processing more than 6 million transactions per year, or those whose data has been compromised in the past.
Level 2 – Merchants process between 1 and 6 million transactions per year.
Level 3 – Merchants process between 20,000 and 1 million transactions per year.
Level 4 – Merchants processing less than 20,000 transactions per year.
Despite the creation of a number of measures, the requirements remain the same for both vendors and service providers, in all categories.
How can data with cards being compromised?
To access data containing cards, cybercriminals try to use security holes in your operating systems and devices. This can be done by:
- Card readers
- location trading system
- Payment system database
- Storage network
- Online portals
- wireless network
- Paper papers
What are the twelve PCI DSS requirements to follow?
The PCI DSS standard has twelve requirements for secure card storage and preventing data breaches. These standards apply not only to merchants but to any other business that stores, processes or transmits data cards.
- Install and maintain a firewall system to store data containing cards.
A firewall is a security device that monitors incoming and outgoing network traffic and selects or blocks specific traffic based on a defined set of security rules. It is your first line of defense against the dangers of safety and should always be tested, protected, and improved.
- Do not use vendor-supplied solutions for password systems and other security settings.
Cybercriminals often use passwords and tools to hack systems. It is important to change the initial credentials immediately before introducing new systems into your network.
- Store secure data with cards
Maintaining cardholder data, whether physical or digital form, is essential for PCI DSS compliance. Cybercriminals often target the stored data of owners and use it to commit crimes. Where there is data containing a card that needs to be stored, you need to make sure that appropriate security measures are in place to meet the various legal, regulatory, and compliance requirements.
- Encrypt the transfer of cardholder data on an open and public network.
If card-based data is transmitted over easily accessible networks, cybercriminals may try to capture it. To ensure data security, data should be encrypted using strong cryptography and security proteins such as Secure Shell (SHH), IPSec, and Transport Layer Security (TLS).
- Use and constantly upgrade anti-virus software
Antivirus software should be installed on all important business systems to prevent malware from invading your network. This protects the cardholder’s data and provides better protection from newly created viruses.
- Create and maintain secure systems and applications
Cybercriminals often use malware in your system to gain access to credit card data. Network providers regularly produce patches to address security instability. It is therefore important to use them as soon as they are released. Packs are essential to keep systems up-to-date, stable, and secure from malware and other threats.
- Avoid accessing cardholder data based on business requirements.
Access to card-based data should be provided only on the need-to-know. Employee errors remain the number one priority for all data breaches. Stable entry checks must be put in place to ensure that only employees who are required to conduct transactions are entitled to access them.
- Identify and verify access to system components
Every employee who has full access to the information should be given a special offer. This lets you know who receives special systems and when.
- Prevent physical access to data containing cards
Physical access to computer systems with card-based data should be limited to authorized users. This prevents any unauthorized person from accessing the system or making hard copies of confidential data.
- View and access all available network resources and card-based data.
Access to network resources and data cards should be closely monitored and all events recorded. This pci compliance solutions like Very Good Security diagnostic method can help to identify negative behaviors and detect errors.
- Always maintain safety procedures and procedures
Weak innovations are constantly emerging. It is therefore important that you regularly test your systems and systems to ensure that security is maintained. PCI DSS also recommends attempts to access and use visual infiltration and security systems to ensure the security of proprietary data.
Why is PCI DSS compliance so important?
PCI DSS compliance is essential if you want to be able to process transaction cards, store card-based data, and reduce the risk of costly breaches. Although PCI DSS is not required by law, under the GDPR credit card data is considered personal, meaning you are legally obliged to keep this data safe.
What if you are not PCI DSS compliant?
Failure to comply with PCI DSS may lead to serious security incidents, such as breaches or theft of proprietary data. A data breach can cause irreparable damage to your business, and in addition to the disabled fine, your business may suffer some consequences from failing to store data with the cards. These include in particular:
- Increasing the risk of card payment data error
- Fines and Penalties
- Withdrawal of funds
- Loss of customer confidence
- Damage the brand name
- Legal actions – financing, remediation and administration
- Loss of job
- Completion of the ability to process payment cards
- Lack of money
Cybercriminals are taking advantage of increased digital exchanges and exploiting system vulnerabilities to gain access to confidential data with cards. To combat this scam, it is important for your organization to be PCI DSS compliant and take the necessary steps to maintain payment processing and secure customer data.
To improve cybersecurity information within your organization and reduce the risk of costly data breaches, we have developed a free guide that provides ten practical tips on how to improve employees’ knowledge of cybersecurity. cybersecurity.