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PCI-DSS

PCI DSS Payment Card Industry Data Security Standard

The Payment Card Industry Data Security Standard (PCI DSS) is the unified global standard for securing the process infrastructure of the payment industry. Visa, MasterCard, Discover Financial Services, JCB International, and American Express formed the PCI DSS in 2004. The PCI Security Standards Council (PCI SSC) oversees the compliance plan, which aims to protect credit and debit card transactions against data fraudulent activity.

Whether you’re a small business or a large organization, the Payment Card Industry Data Security Standard (PCI DSS) is required by the contract for anybody dealing with cardholder data. Your organization must be compliant, and your compliance must be reviewed on an annual basis. Credit card firms often require it, and it is specified in credit card network agreements.

PCI-DSS is a multilateral security standard that provides security management, policies, processes, and methods, network settings, and software design standards to secure other cardholder data. Furthermore, each of these five payment card brands supports PCI DSS compliance and works to promote its adoption.

PCI DSS Compliance And Certification Process

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    Pre-Assessment Phase:- The journey starts with a PCI DSS awareness session for PCI stakeholders, as determined by the client. Since PCI affects the entire corporation, the IT team, information security team, operations team, business team, and top management stakeholders. As this step involves engagement with numerous stakeholders, it sets the tone for the PCI compliance journey.
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    Assessment Phase:- In this phase CUNIX requests documents and business flow diagrams in order to understand the cardholder transmission of data in the environment, and then begins scoping the environment for PCI DSS compliance. once the scoping exercise is completed, CUNIX conducts a gap assessment using PCI Risk Assessment with the intent of discovering all risks relevant to the scoped environment and sharing a thorough action tracker that lists all action points that the client must mitigate.
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    Remediation Phase:- The client receives an action tracker list from QSA once the Pre-Assessment and Assessment phases are completed, QRC will assist clients in providing remediation support and plans based on the results of the scans, testing, and gap analysis, and an offsite audit will be undertaken as needed. CUNIX provides offsite consulting help to the client in order to overcome the gaps and get PCI DSS Certification.
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    Certification Phase:- This is the final phase of the PCI DSS Certification project. The QSA conducts an offsite audit for satisfied controls and closures when the client shares all of the proof and confirms the closing of the gaps, followed by an onsite visit for final certification.

Benefits of CERTIFICATATION

  1. Reduce the risk of a data breach:- When establishing an IT infrastructure, data compliance and management are critical issues, especially if you process or store sensitive consumer data. Each PCI-compliant firm is a less valuable target for cybercriminals because merchants are compelled to employ stronger firewalls and encryption, and they aren’t allowed to retain cardholder data.
  2. Improve customer relationship:- Clients’ concerns about data privacy have never been higher and with a worthwhile purpose. A company that follows the PCI DSS should be able to greatly reduce the risk of a data breach. Being PCI DSS certified demonstrates the company’s strong commitment to data security, which improves customer relationships.
  3. Helps to Avoid Fines:- Avoiding bank fines/penalties and improving customer satisfaction and retention by complying with requirements helps businesses develop a reputation with their customers.
  4. Meet global data security standards:- The PCI DSS regulations were created by five of the world’s largest credit card companies to offer consumers a mandatory level of protection by requiring merchants to fulfil minimal security standards when storing, processing, and transmitting cardholder data. Obtaining PCI certification allows you to join the ranks of other multinational merchants and enterprises dedicated to data security and consumer protection.
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