PCI : DSS compliance is becoming an increasingly important topic as the number of security breaches reported grows each week. Last year over 150 incidents were reported in the USA alone involving hundreds of thousands of card details and millions of dollars worth of losses. The standard applies to all merchants, whether they trade online or though physical stores.
The Logic Groupâs announcement comes as UK-based organisations are becoming aware of the PCI standard and understanding the implications of non-compliance. At a recent conference held in London more than 70% of attendees said compliance is now very important for their business, the balance of 29% saying it is now critical.
âThe PCI : DSS standard is a significant move forward in the ongoing global fight against card fraud. It represents the next major initiative following the successful rollout of Chip & PIN in the UK. To gain compliance, organisations need at their disposal the appropriate technology, supporting processes and training of employees,â comments John Duffin, Director of EFT and Security Consulting, The Logic Group. âSpecialist skills and expertise are required in order to become compliant and ensure the right choices and decisions are taken. With our unrivalled experience in card transaction processing and security consultancy, we can offer clients a superior service.â
âIt is vital that any company who processes, stores or transmits payment transactions and therefore personal card data, realises the risk of non PCI:DSS compliance, which includes damage to brand reputation and fines of many thousands of pounds or even being prevented from accepting cards in the future,â adds Mark McMurtrie, Marketing Director, The Logic Group. âWe have seen some startling cases involving non compliant US companies and it is crucial that UK organisations take action now to avoid suffering the same fate.â
âThe first practical step for most organisations towards compliance is to conduct a pre-assessment auditâ concludes John Duffin, âForesighted retailers who have already used our service have found this to be invaluable in gauging the extent of the problem they are facing.â