White Papers for Federal Financial Institutions Examination Council (FFIEC)

Minimize the Burden of PCI Section 3: A New Approach to Credit Card Encryption

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With the advent of the Payment Card Industry Data Security Standard (PCI DSS), encrypting stored credit card numbers is no longer optional. Any company that stores, processes, or transmits credit card information—regardless of size or volume of transactions—must encrypt stored credit card data or face
serious consequences for non-compliance, including fines of up to $500,000, the loss of brand integrity, and erosion of market value.

While the PCI standard offers broad guidance—featuring rules on the proper use of firewalls, computer access controls, antivirus software, and more—it is the encryption requirements that are proving to be among the most difficult for organizations to address.

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