The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard, designed to reduce payment card fraud by obligating companies that process or store credit card information to secure their environments. To adhere to the PCI DSS, these companies need to implement security controls related to personal financial data.
The PCI DSS details requirements for protecting cardholder data, such as:
- Encrypting data transmitted over networks
- Regularly testing and maintaining security systems
- Implementing strict access controls to cardholder data
In addition to technical measures, the PCI DSS also includes requirements for training and awareness programs for employees, as well as security policies and procedures to ensure that all employees understand their roles and responsibilities in maintaining a secure environment. Companies that fail to comply with the PCI DSS risk fines, loss of merchant accounts, and damage to their reputation.