What is PCI?
The Payment Card Industry (PCI) Security Standards Council requires that all companies, including third party service providers, that are involved in the transmission, processing or storage of credit and debit card data, must adhere to the PCI Data Security Standard on an ongoing basis and demonstrate compliance annually.
While PCI is not a law, such as the HIPAA Security Rule, there are penalties imposed, often by your bank or financial institution, if you’re not in compliance and a breach occurs. Depending upon the breach, these penalties can range from $5,000 to $100,000, including the possibility of your credit card privileges being suspended.
How Can Precision Business Solutions Help?
Our security consultants can work with your organization to complete a self assessment and attestation, as well as put the proper security policies, procedures and monitoring in place for continued compliance.