PCI/DSS

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment.

These Data Security Standards were established by the Security Standards Council, whose corporate members include Visa, MasterCard, American Express, and Discover, in order to reduce data breaches, identity theft, and other fraud-related criminal activity. Compliance with these standards is mandatory for companies of all sizes.

For this reason, PCI DSS holds a very important place today in preventing the widespread online fraud that continues to occur. These rules aim to ensure the security of consumers and businesses in transactions carried out over the internet. The PCI DSS certification is a framework that sets standards for secure commerce and is rated at different levels.

Why are PCI DSS certification and compliance important?

Through PCI DSS consulting, it’s possible for companies offering products and services over the internet to reach international standards in payment security. Thanks to the system and rules mentioned above, cardholders’ personal data and security are kept under protection. Efforts are also underway regarding the suspension of operations for businesses that fail to meet the standards and security requirements set for payment security, on the grounds that they don’t provide a secure service. PCI DSS is extremely important not only for businesses that accept credit card payments, but also for businesses that store and transmit cardholder information.

The PCI DSS compliance process?

Companies applying to obtain the PCI DSS certification, which is the world’s most reputable and important security certification in the eyes of customers, must meet certain criteria, and there are important stages they need to follow in the compliance process. The compliance process consists of 12 requirements, these requirements are;

1. USE OF FIREWALLS

Firewalls essentially block access by foreign or unknown entities attempting to access private data. These prevention systems are generally the first line of defense against hackers (malicious or otherwise). Because of their effectiveness in blocking unauthorized access, firewalls are required for PCI DSS compliance.

2. PROPER PASSWORD PROTECTIONS

Routers, modems, point-of-sale (POS) systems, and other third-party products often come with generic passwords and security measures that the public can easily access. All too often, businesses fail to secure these vulnerabilities. Ensuring compliance in this area involves keeping a list of all devices and software that require a password (or other security measure to access). In addition to a device/password inventory, basic measures and configurations (e.g., changing the password) must also be implemented.

3. PROTECTION OF CARDHOLDER DATA

The third requirement of PCI DSS compliance is the twofold protection of cardholder data. Card data must be encrypted using specific algorithms. These encryptions are, in turn, secured with encryption keys that must themselves be encrypted for compliance. Primary account numbers (PANs) need to be regularly maintained and scanned to make sure no unencrypted data exists.

4. ENCRYPTION OF TRANSMITTED DATA

Cardholder data is sent over multiple ordinary channels (e.g., from payment processors, from local stores to a head office, etc.). This data must be encrypted when sent to these known locations. Account numbers must also never be sent to unknown locations.

5. USE OF ANTI-VIRUS SOFTWARE

Installing anti-virus software is good practice regardless of PCI DSS compliance. However, anti-virus software is required for all devices that interact with and/or store PAN data. This software must be regularly patched and updated. Your POS provider must also take anti-virus measures for devices where it cannot be installed directly.

6. PROPERLY UPDATED SOFTWARE

Firewalls and anti-virus software will require frequent updates. It’s also a good idea to update every piece of software in a business. Most software products will include security measures, such as patches, in their updates to address newly discovered vulnerabilities, adding another layer of protection. These updates are especially required for all software on devices that interact with or store cardholder data.

7. RESTRICTING DATA ACCESS

Cardholder data must strictly operate on a “need to know” basis. All personnel, managers, and third parties who don’t need access to this data shouldn’t have it. Roles that need access to sensitive data must be well documented and regularly updated, as required by PCI DSS.

8. UNIQUE IDENTIFIERS FOR ACCESS

People who have access to cardholder data must have individual credentials and identity for access. For example, encrypted data shouldn’t be accessed through a single login known to multiple employees who share a username and password. Unique identifiers create fewer vulnerabilities and provide faster response time in case of an incident.

9. RESTRICTING PHYSICAL ACCESS

All cardholder data must be kept in a physically secure location. Both physically written or printed data and digitally stored data (e.g., on a hard drive) must be locked in a secure room, drawer, or cabinet. Not only should access be restricted, but every time sensitive data is accessed, it should also be logged to remain compliant.

10. CREATING ACCESS LOGS

All activity related to cardholder data and primary account numbers (PANs) requires a log entry. Perhaps the most common compliance issue is the lack of proper record-keeping and documentation when it comes to accessing sensitive data. Compliance requires documenting how data flows into your organization and how many times access is required. Software products are also required to log access to ensure accuracy.

11. REGULAR TESTING OF SECURITY VULNERABILITIES

The previous ten compliance standards involve various software products, physical locations, and possibly a number of employees. There are many things that can malfunction, become outdated, or suffer from human error. These threats can be limited by meeting the PCI DSS requirement for regular scans and vulnerability testing.

12. DOCUMENTED POLICIES

An inventory of equipment, software, and employees with access must be documented for compliance. Access logs to cardholder data will also require documentation. How information flows into your company, where it’s stored, and how it’s used after the point of sale must also be documented.

ADVANTAGES OF PCI COMPLIANCE

PCI Compliance means that your systems are secure and that your customers can trust you with their sensitive payment card information. As a result, an environment of mutual trust is created.
PCI Compliance is an ongoing process that helps prevent security breaches and payment card data theft, both now and in the future. PCI compliance means you’re contributing to a global payment card data security solution.
PCI Compliance contributes to enterprise security strategies (even if only as a starting point).
PCI Compliance likely leads to increased IT infrastructure efficiency.

PROBLEMS CAUSED BY PCI NON-COMPLIANCE

With PCI Compliance, you protect your customers so they can continue being your customers. However, the consequences of PCI Non-Compliance include the following:

Compromised data that negatively affects consumers, merchants, and financial institutions.
Serious damage can be done to your reputation and your ability to effectively conduct business now and in the future.
Share prices drop as a result of data loss involving user or company accounts.
Along with this data loss, the organization may also face very large financial and reputational penalties.

PCI DSS Compliance Process Levels

E-commerce companies and other credit card users are evaluated at 4 different levels based on their number of card transactions. Different paths to compliance verification are also determined depending on the level. For companies using Visa and Mastercard, the levels can broadly be classified as follows:

Level 1: Companies processing more than 6 million transactions per year.
Level 2: Companies processing between 1-6 million transactions per year.
Level 3: Companies processing between 20 thousand-1 million transactions per year
Level 4: Companies processing fewer than 20 thousand transactions per year.