The 5 major credit card companies got together in 2006 and formed the Payment Card Industry Security Standards Council (PCI SSC).
They created the PCI Data Security Standard (PCI DSS) to protect and increase controls around cardholder data, in order to reduce credit card fraud. Compliance to PCI DSS is required by any company that accepts, issues, or processes payment cards.
Unlike many other security standards, PCI compliance is NOT required by law. However, being PCI compliant can help save your company from fines of up to $100,000 a month. Also, if a company is not PCI compliant, they might have their rights to accept credit card payments revoked! Each employee can do their part to help their company be PCI compliant!
Credit card data should never be stored as clear-text in Excel spreadsheets, Word documents, or any other file.
Of the following two scenarios, which is a better way to store credit card data? (click on the correct scenario)
A sales rep saves their customers' card information in an Excel spreadsheet.
If credit card data is stored, an application is used to encrypt it.
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Your organization stores customer receipts and cardholder data in file folders at the Chief Financial Officer's desk, in an unlocked drawer.
Your organization stores all physical copies of cardholder data in a locked room, inside file cabinets which are also locked.