The organization that has card payment facility should ensure the security of the customer’s information and payment details. They are liable to follow the Payment Card Industry Data Security Standard (PCI DSS)
To protect payment card data, the Payment card Industry DSS has set a tool and measures to ensure the safety of the data. This is applicable to all the industry that accepts card payment. The victims are always small and medium business, which is targeted by the cybercriminals. Any breach in data will jeopardize their chance to be in business.
Small merchants’ will find it challenging
The PCI DSS has a list of 12 mandatory requirement for implementation, which is not only complex but mandatory for common information security practices to achieve compliance.
The core aspect of the PCI DSS is to monitor and secure the point where the cardholder’s’ details can be compromised. This could be a card reader, a secret tap into the wireless network, a weak database etc.
The General Data Protection Regulation (GDPR) is likely to come into force by mid-2018, and organization will be required to comply this regulation. They need to be very careful when dealing with customers’ details. Failure to do so will attract enforcement action from the Information Commissioner’s office. The organization will be penalized for not implementing PCI DSS by this period.
An SME can self-audit and submit a self-assessment questionnaire to see if they meet the PCI DSS’s requirement. They can also conduct a quarterly approved report of their audit.
Well, it takes more than the questionnaire to become PCI compliant. Sales outlets and service providers that fail to put in place the web security requirements are at the receiving end. They are vulnerable to payment card breaches, inviting heavy fines besides losing reputation. It also depends on how accurate their compliance materials are.
If you are looking to have a complete assessment of the system, or even make a self-assessment it will prove to be cost-effective. To reduce your workload and satisfy your requirement implement PCI data security standard.