Retailers Still Behind on PCI Compliance

New survey shows minority of companies in compliance, despite huge improvement last year.

March 13, 2015

WASHINGTON – Most global retailers are falling behind on consumer data security standards intended to protect against cyberattacks, according to a new Verizon survey of more than 5,000 merchants, as reported by The Hill this week.

Four in five companies surveyed failed tests to determine whether their practices comply with the Payment Card Industry Data Security Standard (PCI DSS), which is considered a baseline for data security. In spite of that figure, compliance with the standards still rose by roughly 18% from 2013 to 2014.

The PCI DSS framework has three basic components: Retailers must analyze IT systems for vulnerability to hackers, patch weaknesses and ensure no cardholder data is unnecessarily stored and submit compliance records to banks and payment card companies. 

According to the survey, conducted by Verizon Communications, of all the data breaches studied in the report, not a single company was compliant with the framework when the attack took place. The Hill quoted PCI Security Standards Council General Manager Stephen W. Orfei, saying that businesses must change their “casual mindset” on data security.

“The great news is that we are making clear progress in many key areas when it comes to protecting customers’ payment data,” Orfei told the publication. “However, the report emphasizes that we still have a long way to go because cyberattacks are on the rise, and too many companies do not make payment security an all-day, every day priority.”

For more on PCI compliance and how it affects the industry, and what you can do visit the Resources found at conexxus.org.

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