Online Retailers Hit With £10K+ Fines for PCI Security Failures

Share Article

With online fraud at an all time high the importance of security has never been more so apparent, however many online retailers are failing to meet basic security procedures simply by choosing the wrong suppliers. Choosing a service provider that is PCI Level 1 complaint such as Advansys can save you in excess of £10,000.

For retailers that do not take appropriate security measures, payment card providers such as Visa and Mastercard have imposed stringent fines which can, in instances amount to more than £10K.

With online fraud at an all time high the importance of security has never been more so apparent, however many online retailers are failing to meet basic security procedures simply by choosing the wrong suppliers.

Criminals have become more reactive to new technology and have discovered that they can make a vast amount of money by fraudulently obtaining card details from unsecure websites. The payment card industry has up until recent years footed the bill for these compromises in data security, but with increased criminal activity the payment card industry (PCI) can no longer afford to bear the brunt for retailers’ ignorance.

For retailers that do not take appropriate security measures, payment card providers such as Visa and Mastercard have imposed stringent fines which can, in instances amount to more than £10K. It is rumored a number of UK retailers have already been fined in excess of this figure in the first quarter of 2011.

A council comprising of all of the major card providers has been set up in order to combat the problem of online fraud. The Payment Card Industry Security Standards Council (PCI SSC) has set up two sets of rules that online retailers would be wise to follow. The first set of rules comprise of technical and operational requirements for all businesses that handle card holder data – the Payment Card Industry Data Security standards (PCI DSS). The second set applies to software vendors and developers and comprise or 12 PCI Requirements which when implemented in their entirety ensure that software is as secure as possible – Payment application-qualified security standard (PA-DSS).

The most common breach of the PCI security standards appears to be with the implementation of software, with a number of platforms being marketed as being ‘PCI complaint’ without fulfilling all 12 PCI requirements. To ensure that a retailer is not held liable for the exorbitant fines set out by payment providers they must ensure that the software and services such as hosting that they use are complaint on all 12 PCI requirements, this is commonly known as PCI complaint level 1.

Advansys Ltd have achieved PCI level 1 compliancy and have therefore fulfilled all 12 PCI requirements. This demonstrates that all of their business processes and infrastructures meet the highest level of security throughout the life cycle of a credit transaction. An award winning ecommerce provider and web development Company, Advansys have more than 10 years experience in the ecommerce industry. With a proven understanding of the importance of customer data and payment security for online businesses, Advansys can offer PCI Managed Services which assist in making sure that your business complies with PCI security.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Diane Wilson
Visit website