Resources for Federal Financial Institutions Examination Council (FFIEC)
Easing PCI Compliance
www.scmagazineus.com A growing number of organizations in both the retail and financial services industries are recognizing the benefits of implementing and adhering to the Payment Card Industry Data Security Standard (PCI DSS). After all, the drawbacks of non-compliance became all too clear late last year when TJX Companies announced that over an 18-month period hackers had compromised the credit and debit cards of nearly 50 million of its customers. However, updated numbers have the breach reportedly compromising 94 million customers.
Merchants and service providers that fail to comply with the payment card security requirements are not only subject to penalties and fines, but also make themselves more vulnerable to cybercriminals and thereby expose their firm's brand and reputation to additional risk. A security breach is bad enough - being breached due to non-compliance is even worse.
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