PCI-DSS
PCI-DSS is released by credit card companies which aims to protect card holder details. This standard requires the member, merchants, and other service providers using credit card facilities to carry out regular PCI scan for data at rest, security audits & appropriate data controls to be in place. PCI-DSS version 3.2.1 has six control objectives and in all there are 12 specified requirements under objective section. It is not only the specific business that need to comply but also if your organisation uses third party providers to store, process or manage the security of the environment where the PCI data is stored, must comply also. As a service provider your bank or payment brands – visa, Mastercard etc – may require you to comply with PCI DSS before they allow you to process their card. If you fail to secure or comply with the requirement you could incur heavy fines and restrictions.
Benefits of Implementing PCI DSS
Some of the benefits of obtaining PCI DSS are as follows:
- Provides guidance to organizations for protecting customer data
- Provides assurance to customers for the secure storage, transmission and use of their personal data
- Helps evade fines in case of a mishap
- Determine security posture and improvise
- Prioritizing investment in infrastructure