The Payment Card Industry Data Security Standard (PCI-DSS) is a worldwide standard designed to protect payment card data. Created to help organisations that process card payments to prevent payment card fraud, it imposes strict data controls on all organisations that store, process or transmit payment card data from card brands.
The standard requires organisations to meet stringent requirements for the handling and safe keeping of data.
Organisations handling card data are obliged to protect the cardholder data. They are required to build and maintain a secure network that is regularly monitored and tested. These networks should have strong access controls and must comply with a maintained information security policy held by the organisation.
All card processing organisations are also obliged to maintain a vulnerability management programme. For organisations that fail to comply with these requirements, the penalties can involve:
- Insurance claims
- Cancelled accounts/replacement cards
- Payment card issuer fines
- License to process transactions could be revoked
Credit and debit card brands are getting stricter on PCI compliance with individual card providers choosing to increase fines they charge for data breaches. The ultimate risk resulting from a breach, for companies with a relationship with one or more of the card brands, is the loss of their ability to process credit card payments. Companies subject to a data breach may also be audited and could potentially be fined up to £100,000.
For more information on PCI Compliance down the whitepaper:
Data Classification – Delivering Security and Business Value
Boldon James’ internationally-recognised classification software can support organisations in protecting personal data by reducing the risk of a data breach through the use of Classifier360 classification. For example, a screen shot sent to another department may contain an individual’s address and credit card number and wouldn’t be picked up by most DLP solutions. However the user could mark the email as PCI-related to ensure that the information is handled confidentially in line with PCI requirements.
Boldon James Data Classification products support compliance with Payment Card Industry Data Security Standards by:
- Clearly identifying PCI-related information to assist or help enforce DLP
- Assisting with Enterprise search should an audit be required
- Identifying and triggering encryption, where required