Businessman using tablet and set up network connection with shield guard to protected from cyber attacks. Network security system concept

Information Security and the Importance of its Support System

So, what is information security? Usually, it is known for the security of information and a business from any kind of accidental activities that can lead to damage to the employees and managers. Information security ensures that a business is prevented from every kind of security risk.

Information leakage might lead to various difficulties for a corporation that can be important economic losses to 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 serious damage can happen as well as a leak of personal data of employees.

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 who are responsible for compliance with PCI specifications in organizations from education, financial services, government, health and retail. The researchers wanted to accurately assess the PCI DSS standards, measure the costs of its implementation, identify the problems associated with compliance with these regulatory requirements, and evaluate the spread of certain technologies in order to better understand what organizations are following when implementing the PCI DSS specification. It turned out that:

  • 70 percent of respondents believe that compliance with the PCI DSS standard makes their organizations more secure
  • 87 percent of respondents believe that the requirements of the PCI DSS standard are necessary for the protection of data of cardholders
  • Of all industries, the PCI DSS requirements of retailers and financial institutions proved to be the best. Retail took the most serious attitude towards the implementation of this standard
  • 67 percent of respondents expect that in the next year their expenses for compliance with the PCI DSS standard will increase. This means that company executives and board members consider PCI DSS a very important initiative
  • In addition, 60 percent 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 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 that are operating with international payment systems such as Visa, MasterCard, and others. The standard of PCI was established by the community of PCI Security Standards Council 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 which process, stores, or transfers data on the other economic sectors (banks, processing centers, service providers and e-commerce systems). Bookkeeping was also used for keeping the financial records of the clients. It is used by many banks and financial sectors for making sure that all the data and information of the clients is saved and secured.

PCI standards are operated all over the world and concern all organizations that process credit cards and also store or transmit information about their holders. This standard was introduced to give the payment card industry more control over confidential data and to exclude the possibility of their leakage. Also, it is designed to guarantee the protection of consumers from fraud or identity theft when using credit cards.

Who is covered by PCI DSS?

First of all, the standard of PCI defines the requirements for organizations in the information infrastructure that store, process or transmit payment card data as well as to organizations that can affect the security of this data. The purpose of the standard is quite obvious – to ensure the safety of payment cards.

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