White Papers for Federal Financial Institutions Examination Council (FFIEC)

Winning the PCI Compliance Battle

Qualys

The last several years have seen an unprecedented assault on personal and fi nancial data that customers have knowingly or unwittingly entrusted to retailers,banks, service providers and credit card companies. Bank of America, BJ’s Wholesale Club, CardSystems Solutions, Choicepoint, Citigroup, DSW Show Warehouse, Hotels.com, LexisNexis, Polo Ralph Lauren and Wachovia are just a few of the names that have been boldly exposed in the media and pummeled in the fi nancial markets after major data security breaches were revealed. Credit card data in particular has been compromised so frequently that calls for government intervention and regulation became widespread.Taking another approach, the payment card industry countered the criminal onslaught with a homegrown security initiative that is at once broader in scope and more granular in its requirements than any measures additional government regulation might have imposed. The Payment Card Industry Data Security Standard is a comprehensive security standard that establishes common processes and precautions for handling, processing, storing and transmitting credit card data.

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