If your business is involved in card information, whether that’s running info, transferring, or holding, you are expected to know PCI Compliance standards, and meet them.
What’s the worst that Could Happen?
Not meeting the compliance standards can hurt your business substantially, and not just because your card/payment system is insecure or faulty. Some possible repercussions of violating PCI Compliance are:
- Credit card company fines (up to $100,000)
- Legal costs
- Leadership position loss
- Higher compliance cost after the fact
- Possible loss of card processing privilege
- Brand reputation damage
- Security breach & data loss
- & more
It’s better to get compliant and stay that way. Staying PCI Compliant cost approximately $50-$70 monthly for a small to midsized company, depending on specific processing details and needs. It may seem like a hassle, but it’s nothing compared to the possible consequences and loss. If you’d like to educate yourself on the PCI standards, you can read through their documents here.
How Do I Ensure My PCI Compliance?
Compliance standards take pages and books to understand. Here are a few best practices from the PCI security standards institution. For specific percentages and qualifications based on your compliance level, visit www.pcisecuritystandards.org.
- Maintain an adequate firewall security system to protect card and cardholder information
- Never use built in, already-supplied system passwords
- Encrypt card and cardholder information any time a transfer is made
- Keep update anti-virus software
- Only allow card information access on a strictly need-to-know basis
- Do not allow physical access to card or cardholder information
- Track information access
- Frequently run security checks on your network
- Inform all personnel about the privacy and security policy, so you do not have accidental Compliance violations
It’s a lot to know and keep track of, and this is just the basics. The specifics of compliance for your company may not match the guys next door.
How EST Group, LLC can Make It Easier
Our systems, applications and data centers are all committed to staying completely compliant. Call 817-382-8000 to talk to our professionals about what services you need to get compliant, and stay compliant. Learn more about EST Groups security solutions here.