With countries encouraging digitalization, and with some countries thrusting digitalization on its citizens, the grave importance of cyber security, and the increased risk of card fraud is gaining prominence. Festive shopping, wedding season shopping, event shopping, and discount shopping is on the rise.
However, shoppers are contemplating whether to purchase their requirements online or in-store. Each mode has its own advantages and disadvantages. Online shopping is convenient, however the high risk of card fraud is threatening users, and more so with the numerous cyber security breaches.
Consumers are concerned about the threat to the security of the sensitive card data. How do online stores handle card data? Are they provided adequate security? Will cyber criminals be able hack into the merchant’s IT systems, endpoints, POS systems and steal sensitive information?
Surveys have revealed that around 50% of the consumers were concerned about data security, and most were concerned about disclosing sensitive information. The news of recent cyber attacks has induced so much fear, that many have stated that they would not purchase any product or service from any retail shopping concern that has suffered a data breach.
The Purpose of PCI DSS
The main purpose of the Payment Card Industry Data Security Standard is to reduce occurrences of card fraud and increase security of payment card data. Any organization that needs to accept, transmit or store payment card data must ensure that they comply with the Data Security Standards specified by the PCI organization.
Organizations, in order to ensure PCI compliance must adhere to the below-mentioned requirements:
- The organization must maintain an “always secure” IT network
- Regularly test the vulnerability of the networks
- Define strong user and device access controls
- Implement a robust information security policy
- Ensure vulnerability management through an effective antivirus solution
- Take measures to protect the sensitive data of the cardholders
How to attain PCI DSS compliance
Ensuring PCI compliance is no easy task. It is advisable to make use of PCI DSS compliance experts, as well as Self-Assessment Questionnaire (SAQ) Wizards offered by reputed vendors such as Comodo HackerGuardian. The comprehensive template helps check for non-complaint areas. Further, some of these tools also offer Free PCI Vulnerability Assessment Scans.