PCI Compliance Consulting Services
Experienced PCI Compliance Team
Do you need assistance securing your customer’s cardholder information? Would you like to ensure that you are PCI compliant? If so, then do not hesitate to contact our PCI Compliance Team today.
PCI standards are designed to enhance the security of processing, transmitting, and storing cardholder information in order to prevent fraud or misuse of such information.
Companies, financial institutions, and merchants need to be aware of the importance of implementing robust security policies that protect payment systems and cardholder information.
This is especially true as Internet-based transactions—as well as the potential for cyber-crimes and hacking—rapidly increase.
If your company is noncompliant with PCI standards, you may face significant fines and penalties, especially if your cardholder’s information is compromised or otherwise put at risk.
Depending on the size of your business, the fines and penalties could lead to bankruptcy and other collateral consequences such as loss of consumer confidence, damaged reputation, and reduced profit. Do not wait to ensure that your operations are PCI compliant.
At Oberheiden, P.C., our professionals can provide a variety of PCI Compliance Consulting Services including developing cyber-crime response plans; helping with PCI audits and reporting; and ensuring that cardholder information is processed securely and stored in a safe location.
We have experience identifying noncompliance with PCI standards and internal weaknesses and then work to help companies implement robust compliance policies that secure cardholder information. We can do the same for your company.
Do not risk your reputation and do not wait to incur substantial penalties. Call or contact our office today for a free consultation regarding PCI compliance.
What is PCI DSS?
The Payment Card Industry Data Security Standard (“PCI DSS”) is a global standard composed of security requirements endorsed by five major payment brands: Visa, Mastercard, Discover, American Express, and JCB.
The PCI DSS is administered by the Payment Card Industry Security Standards Council. The Council outlines the following goals:
- Build and Maintain a Secure Network;
- Protect Cardholder Data;
- Maintain a Vulnerability Management Program;
- Implement Strong Access Control Measures;
- Regularly Monitor and Test Networks;
- Maintain an Information Security Policy
The purpose of maintaining compliance with this global standard is to decrease payment fraud perpetrated on the Internet by enhancing the security of customer payment card data.
What Is PCI Compliance?
The Council outlines a 3-Step Process for PCI Compliance:
- Assess: This step involves evaluating cardholder information and business operations for vulnerabilities or weaknesses.
- Remediate: This step involves correcting the identified vulnerabilities or weaknesses.
- Report: This last step involves submitting the required reports on PCI compliance.
PCI DSS compliance applies to entities that transmit, process, or store cardholder information. Entities that deal with cardholder information must maintain PCI DSS compliance.
In other words, if your business accepts, processes, or otherwise handles payment cards of individuals, then the PCI standards are applicable to you.
This requirement mandates that companies and entities attest to their compliance with the global standard. Such attestation requires companies to show that their operations are properly safeguarding customer payment data and minimizing risk exposure.
PCI DSS compliance is critical because it not only helps companies safeguard cardholder data, but it also enables companies to develop strategies to improve accountability and compliance in the future.
In an increasingly globalized world of online transactions and digital currencies, it is important more than ever to guarantee that cardholder data is secure and protected against fraud.
If you have any questions regarding PCI DSS compliance, give our PCI Compliance Team a call today.
PCI Compliance Validation: Two Types
As we mentioned, all entities that transmit, process, or store cardholder information must be PCI DSS complaint. The compliance validation for which they must adhere depends on their transaction volume.
Entities must either (1) provide a Self-Assessment Questionnaire (“SAQ”) as to their PCI compliance or (2) have an audit conducted by a Qualified Security Assessor (“QSA”) regarding compliance.
Self-Assessment Questionnaires (“SAQs”)
SAQs are completed by companies who do not need the services of a QSA. These companies are generally small businesses or other providers with less transaction volume.
SAQs are an assessment of “yes” and “no” questions that the entity completes to evaluate PCI compliance. Any deficiencies noted may need to be supplemented with information as to how the entity will remedy the identified weakness.
Audits by a Qualified Security Assessor (“QSA”)
Companies with larger transaction volume must have an audit conducted by a QSA who will evaluate the company’s operations and attest to its PCI compliance. Typically, a Report on Compliance (“ROC”) is prepared.
QSAs are certified PCI examiners. PCI audits are increasingly sought to ensure that a company’s business operations are properly safeguarding cardholder information.
Violations, Penalties, and Consequences of PCI Noncompliance
Companies and entities that are noncompliant with PCI standards may face fines and penalties. As can be imagined, the amount of the fine imposed will impact a smaller business to a greater extent than a larger entity such as a bank.
In addition to possible fines, you may also be responsible for the losses that ensue as a result of the fraud or misuse of cardholder data. If your cardholders suffer losses, you will incur penalties for failing to safeguard their data.
Additional consequences of PCI noncompliance can also be severe and can include the following: damaged reputation; losses from fraud or misuse; impaired consumer confidence; profit loss; litigation costs; increased costs of compliance; and loss of jobs and your business.
This risk is more severe in an era of cyber-crimes and cyber-attacks. As soon as a hacker steals a cardholder’s personal information, they are able to use the card and steal the individual’s identity and assets. These circumstances typically result in significant fines for your company.
Do not let this risk consume your company without getting the help you need to ensure company-wide PCI compliance.
How Can Oberheiden, P.C. Help Me?
Companies should retain a team of PCI compliance professionals to evaluate their PCI compliance and ensure that their operations are properly safeguarding cardholder information.
At Oberheiden, P.C., our PCI Compliance Team can provide the following services to help you:
- Develop a comprehensive cyber-crime and cyber-attack response plan;
- Provide auditing and reporting services that examine PCI DSS compliance;
- Identify key areas in company operations that require improvement in order to become PCI compliant;
- Guarantee that cardholder information is processed securely;
- Ensure that cardholder information is stored in a location protected against fraud or misuse;
- Recommend that the company develop robust security measures to protect cardholder data;
- Help with implementing stringent security measures for PCI compliance;
- Perform specific validation services such as PIN assessments or vendor scanning;
- Check company software;
- Evaluate encryption protocols and coding of data;
- Assist with self-assessment questionnaires (“SAQs”) and audits involving a qualified security assessor (“QSA”);
- Remove identified weaknesses, deficiencies, and gaps in your operations, software, policies, and other online applications that could impact PCI compliance;
- Outline strategies for you to maintain PCI compliance for upcoming years.
The above list is only representative of the services we can provide regarding PCI compliance. If you have a question regarding a service on this list or an additional service, give our team a call today.
Need Advice Regarding PCI Compliance Consulting Services?
If you need information about PCI services or are worried about PCI compliance, then it is time to get in touch with our team of professionals at Oberheiden, P.C.
We are here not just to satisfy your bank or the entity you use to process your transactions. We are also here to make you feel secure that your operations are PCI compliant and can prevent any losses, thefts, or frauds from ever occurring in the first place.
We will protect your business and reputation by ensuring that you are PCI DSS compliant and securely processing cardholder information.
Our team of professionals is committed to helping you attain compliance with PCI standards by implementing stringent security measures to safeguard cardholder information.
Call or contact our office today for a free consultation to hear more about our PCI Compliance Consulting Services.