Posted on June 18th, 2009 No comments
MasterCard has changed their PCI rules and is now insisting that all Level 2 merchants have on-site assessments. There’s no dispute that this is a significant move, but whether it will truly have any lasting—and meaningful—impact is unclear.
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MasterCard Gets PCI Tough With Level 2 Retailers?
The Federal Trade Commission today described its comprehensive efforts to combat identity theft before the U.S.
The number of breaches caused by insider malfeasance or hacker attacks is creeping upward, according to the nonprofit Identity Theft Resource Center.
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Malicous attacks increase
One of the most persuasive ROI arguments used to justify spending thousands (even millions) of dollars on PCI compliance was that implementing all those PCI-mandated security controls would help reduce fraud, as well as security breaches. Merchants have been encouraged to balance their spending costs against the savings due to having fewer breaches and less fraud. In the end, PCI compliance would translate into profits for the merchant due to fewer chargebacks, less internal fraud and a lower risk of security breaches.It’s a great theory.
Why PCI Has Not Reduced Fraud