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PCI DSS and PCI Compliance

University of Texas at Austin_061624C
[University of Texas at Austin]

- Overview

 PCI DSS (Payment Card Industry Data Security Standard) is a set of security rules, while PCI Compliance is the act of following those rules to protect cardholder data when processing, storing, or transmitting credit card information, ensuring secure environments to prevent fraud and breaches. 

Compliance involves implementing controls like firewalls, strong passwords, encryption, and regular security testing, and is mandatory for any business handling card payments, with enforcement by major card brands leading to fines or loss of processing ability for no

PCI DSS provides the "what" (the security rules), and PCI Compliance is the "how" (adhering to those rules) to safeguard sensitive financial information and build customer trust.

1. PCI DSS (The Standard):

  • What it is: A comprehensive information security standard created by the PCI Security Standards Council (PCI SSC).
  • Purpose: To reduce credit card fraud by strengthening data security across all entities involved in card transactions.
  • Applies to: All organizations that process, store, or transmit cardholder data.

 

2. PCI Compliance (The Process):

  • What it is: The ongoing process of meeting the PCI DSS requirements.
  • Key Requirements (The 12): Include building secure networks, protecting data, managing vulnerabilities, implementing strong access controls, regularly monitoring networks, and maintaining security policies.
  • Enforcement: Enforced by payment card brands (Visa, Mastercard, etc.) through contracts with processors, resulting in fines or penalties for non-compliance.

 

Please refer to the following for more information:

 

- PCI Compliance

PCI compliance refers to adhering to the Payment Card Industry Data Security Standard (PCI DSS), a global framework ensuring businesses securely handle credit/debit card data to prevent fraud, involving 12 core requirements like strong firewalls, encryption, access controls, and regular security testing. 

While not a government law, it's contractually required by card brands, enforced by processors, and involves annual assessments (SAQs, scans) with penalties like fines for non-compliance, scaling by transaction volume.

1. Key Aspects of PCI Compliance:
  • What it is: A set of security standards (PCI DSS) for anyone accepting, processing, storing, or transmitting cardholder data.
  • Who manages it: The PCI Security Standards Council (SSC).
  • Who enforces it: Payment card brands (Visa, Mastercard, Amex) and processing banks.

2. The 12 Core Requirements (Simplified):
  • Build & Maintain Secure Networks: Use firewalls, don't use vendor-supplied defaults.
  • Protect Cardholder Data: Encrypt data in transit and at rest, strong passwords.
  • Manage Vulnerabilities: Anti-virus, secure systems, regular patching.
  • Implement Access Controls: Limit access to data, use unique IDs.
  • Monitor & Test Networks: Regular security testing, log monitoring.
  • Maintain Info Security Policy: Have policies, educate staff.

3. Compliance Levels (by Transaction Volume): 
  • Level 1: >6 million transactions/year (most rigorous).
  • Level 2: 1-6 million/year.
  • Level 3: 20,000-1 million/year.
  • Level 4: <20,000/year (simplest).

4. Benefits of Compliance:
  • Prevents fraud and data breaches, builds customer trust.
  • Avoids significant fines, penalties, and reputational damage.

5. The Process:
  • Self-Assessment Questionnaire (SAQ): For smaller merchants.
  • Quarterly Network Scans: By an Approved Scanning Vendor (ASV).
  • Report on Compliance (ROC): For Level 1, done by a Qualified Security Assessor (QSA).
  • Attestation of Compliance (AOC): Final sign-off form.
 
 
[More to come ...]

 

 

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