The Payment Card Industry Data Security Standard (PCI-DSS) is a set of security standards designed to protect customer payment card data. When customer payment card data is exposed, it falls under PCI DSS non-compliance.
There have been many PCI-DSS compliance breaches in recent years, some of which have been very costly for the businesses involved. Here are a few notable examples:
- Magecart Attack on Warner Music Group: In late 2020, Magecart, a conglomerate of hacking groups that target payment card data online, zeroed in on Warner Music Group (WMG) for three months. Payment card information, including card number, CVC/CVV, and expiration date, was exposed during this time.
- Target Lost Data on 40 million Cards: In 2013, Target lost 40 million credit card numbers. Despite having a $1.6 million malware detection tool in place, Target missed critical warnings from the software for three weeks.
- Adobe’s Million Dollar Data Breach: In 2013, Adobe experienced a data breach that compromised 38 million active users’ information. The company had to pay $1 million to settle a lawsuit by 15 states over the breach.
- Heartland Payment Systems Loses Processing Privileges: In 2008, Heartland Payment Systems experienced a data breach that compromised 130 million credit and debit cards. The company lost its processing privileges with American Express and had to pay $140 million in compensation.
- Equifax: In 2017, Equifax experienced a data breach that compromised the personal information of 143 million people. The company had to pay $575 million in fines and compensation.
These are just a few examples of the many PCI-DSS compliance breaches in recent years. These breaches can have a significant financial impact on businesses and damage their reputations.
There are several steps that businesses can take to reduce the risk of a PCI-DSS compliance breach. These include:
- Implementing strong security measures to protect customer payment card data.
- Keeping software up to date with the latest security patches.
- Educating employees about cybersecurity risks and how to protect customer data.
- Having a plan in place to respond to security incidents.
By taking these steps, businesses can help protect themselves from the financial and reputational damage resulting from a PCI-DSS compliance breach.
Here are some additional tips for improving your PCI-DSS compliance:
- Use strong passwords and security measures to protect your systems and data.
- Keep your software up to date with the latest security patches.
- Educate your employees about cybersecurity risks and how to protect customer data.
- Have a plan in place to respond to security incidents.
Following these tips can improve your PCI-DSS compliance and protect your customers’ payment information.
