Payment Council Industry Data Security Standards
The security benefits associated with maintaining PCI compliance are vital to the long-term success of all merchants who process card payments. This includes continual identification of threats and vulnerabilities that could potentially impact the organization. Most organizations never fully recover from data breaches because the loss is greater than the data itself.” — Quick Service Restaurant (QSR) Magazine
Primary Task Response:
Following the Payment Council Industry Data Security Standards (PCI DSS) is just good business. Such standards help ensure healthy and trustworthy payment card transactions for the hundreds of millions of people worldwide that use their cards every day.
- Please define and describe the PCI DSS
- What are potential liabilities from not following PCI DSS?
- With regards to payment security:
- What data are thieves after?
- Where do thieves steal data?
- What needs to be secured?
Answer preview
According to Morse & Raval (2008), Payment Card Industry Data Security Standard is a set of security standards regulating and ensuring all companies that accept process, store or transmit credit card information maintain a highly secured environment. The PCI DSS was started on December 15th, 2004 with the main aim of ensuring security to people during any transaction done with their credit cards. The PCI DSS’s administration and management are handled by The Payment Card Industry Security Standards Council (PCI SSC)…
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