The Payment Card Industry's Data Security Standards are guidelines established by major credit card companies for any organization that processes electronic financial transactions to keep data secure and protected. In January, version 3 of the PCI DSS came into effect, bringing several changes aimed at further bolstering defenses for sensitive information in an evolving technological landscape.
Version 3 emphasizes comprehensive, vigilant security
Although companies aren't required by law to abide by these standards, they can face fees and other consequences if they fail to comply. Additionally, implementing a secure file transfer system and other safeguards in accordance with the recommendations serves as an excellent foundation for preventing data breaches and other forms of cybercrime.
The changes included in version 3 of the PCI DSS address today's technology trends, including cloud computing, mobile, and e-commerce trends. The controls also promote ongoing compliance through education and awareness, as well as working with business partners to share responsibilities for data security at all points, whether the information is in transit or at rest.
Making compliance more approachable
Upholding the requirements of the PCI DSS ultimately falls to business leaders. To meet each control, they need to consider their IT infrastructure, physical security, data management processes, passwords and account access, coding practices, and more. In order to simplify the task of establishing a secure, compliant system, companies can choose programs and tools that can be implemented in a compliant way and help meet relevant standards.
In line with version 3's emphasis on encryption and other protective measures as well as ongoing, comprehensive vigilance, Globalscape's highly secure Enhanced File Transfer™ (EFT™) solution enables organizations to collect, transmit, and store payment information within a secure environment. Beyond a traditional managed file transfer offering, EFT has features specifically designed to help businesses develop a robust, PCI-compliant system.
Additionally, reporting and monitoring modules enable companies to oversee the performance and activity of their solutions so they can be confident they're continuously upholding the necessary measures. Instead of checking off a list of requirements once a year and going on blind faith that the solution functions as expected, leaders and IT teams can be alerted if part of their system falls out of compliance—and receive information about what to do to fix the problem.
Many organizations struggle to achieve and maintain compliance year-round. However, the string of recent data breaches as well as the PCI's renewed emphasis on constant vigilance have demonstrated that these measures are increasingly important. Choosing tools and vendors that make supporting compliance a priority can make all the difference.