The Payment Card Industry Data Security Standard (PCI DSS)

The Payment Card Industry Data Security Standard (PCI DSS)

It is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. The PCI DSS is a global standard, and compliance is required for any organization involved in payment card transactions.

The latest version of the Payment Card Industry Data Security Standard (PCI DSS) is v4.0. It was released on March 31, 2022, by the PCI Security Standards Council. The new version replaces the previous version, PCI DSS v3.2.1, and is designed to address emerging threats and technologies better and provide innovative ways to combat new threats . The standard is globally recognized and enforced to prevent security breaches and ensure payment card data security.

Objective: The primary goal of PCI DSS is to protect sensitive cardholder data and secure the systems that process and store this information, ultimately reducing the risk of data breaches and fraud.

Key Requirements:

PCI DSS is updated periodically to reflect the changing threats and technologies in the payment industry. The latest version is PCI DSS 4.0, which was released in March 2022. Some of the changes in PCI DSS 4.0 include:

• Build and Maintain a Secure Network and systems:

  • Install and maintain a firewall configuration to protect cardholder data.

  • Do not use vendor-supplied defaults for system passwords and other security parameters.

• Protect Cardholder Data:

  • Protect stored cardholder data.

  • Encrypt transmission of cardholder data across open, public networks.

• Maintain a Vulnerability Management Program:

  • Use and regularly update antivirus software.

  • Develop and maintain secure systems and applications.

• Implement Strong Access Control Measures:

  • Restrict access to cardholder data by business need-to-know.

  • Assign a unique ID to each person with computer access.

  • Restrict physical access to cardholder data.

• Regularly Monitor and Test Networks:

  • Track and monitor all access to network resources and cardholder data.

  • Regularly test security systems and processes.

• Maintain an Information Security Policy:

  • Establish and maintain an information security policy.

Compliance Levels: PCI DSS compliance levels are determined by the number of transactions a merchant processes annually.

The levels are:

• Level 1: Over 6 million transactions annually.
• Level 2: 1 to 6 million transactions annually.
• Level 3: 20,000 to 1 million transactions annually.
• Level 4: Less than 20,000 transactions annually.

• Validation:

  Compliance validation involves self-assessment questionnaires (SAQs), external vulnerability scans, and onsite assessments by Qualified Security Assessors (QSAs) for higher-level merchants.

• Penalties for Non-Compliance:

  Non-compliance can result in fines, increased transaction fees, and restrictions on processing card transactions.

Applicability: PCI DSS applies to all entities that store, process, or transmit cardholder data, including merchants, service providers, and financial institutions. For the most current and detailed information about PCI DSS, it is recommended to visit the official PCI Security Standards Council (PCI SSC) website or contact the PCI SSC directly. Always refer to official sources for the latest updates and compliance requirements.

If you are interested in learning more about PCI DSS v4.0, you can refer to the official website of the PCI Security Standards Council. PCI Security Standards Council –Protect Payment Data with Industry-driven Security Standards, Training, and Programs