Information security and the importance of its support system
So, what is information security? Usually, it is known for protecting information and a business from any accidental activities that can damage the employees and managers. Information security ensures that a company is prevented from every kind of security risk.
Information leakage might lead to various difficulties for a corporation that can include significant economic losses or even complete bankruptcy. More often, financial documents, technological and design developments, logins, and passwords for entering the network of other organizations are “leaking out” from companies. But severe damage can happen as well as a leak of the personal data of employees. You need to keep private information protected.
PCI information security and why it is important
After major hacking of card payment systems that occurred in recent years, organizations facing the issues of card hacking began actively discussing implementation and compliance with information security standards.
The survey was attended by IT executives responsible for compliance with PCI specifications in organizations from education, financial services, government, health, and retail. The researchers wanted to assess the PCI DSS standards accurately, measure the costs of its implementation, identify the problems associated with compliance with these regulatory requirements, and evaluate the spread of specific technologies to understand better what organizations are following when implementing the PCI DSS specification.
It turned out that:
- 70% of respondents believe that compliance with the PCI DSS standard makes their organizations more secure.
- 87% of respondents believe that the requirements of the PCI DSS standard are necessary for the protection of cardholders’ data.
- Of all industries, the PCI DSS requirements of retailers and financial institutions proved to be the best. Retail took the most severe attitude towards the implementation of this standard.
- 67% of respondents expect that their expenses for compliance with the PCI DSS standard will increase in the next year. Increased costs mean that company executives and board members consider PCI DSS a significant initiative.
- In addition, 60% of the respondents suggested that efforts to comply with the PCI DSS standard can stimulate other projects related to networks and network security.
Payment card industry and data security standard
The standard for the protection of information in the field of payment cards
The PCI DSS standard is designed to ensure the security of processing, storing, and transferring data in information systems of companies operating with international payment systems such as Visa, MasterCard, and others. The PCI standard establishes the PCI Security Standards Council community that contains the leading payment cards of the world, such as MasterCard Worldwide, American Express, Visa International, and JCB. The PCI DSS standard applies to every company that processes, stores, or transfers data on the other economic sectors (banks, processing centers, service providers, and e-commerce systems). You can also use bookkeeping to keep the client’s financial records: banks and economic sectors to ensure that all the clients’ data and information are secured.
PCI standards are operated worldwide and concern all organizations that process credit cards and store or transmit information about their holders. This standard gives the payment card industry more control over confidential data and excludes the possibility of their leakage. PCI also guarantees the protection of consumers from fraud or identity theft when using credit cards.
Who is covered by PCI DSS?
First, the standard of PCI defines the requirements for organizations in the information infrastructure that store, process, or transmit payment card data and organizations that can affect the security of this data. The purpose of the standard is obvious – to ensure the safety of payment cards.
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