What happens if SMBs fails to comply with PCI DSS Compliance standards?

What happens if SMBs fails to comply with PCI DSS Compliance standards?

PCI/DSS has been the result of multiple efforts towards defining a common framework for the implementation of security controls to protect payment card data. The rules of PCI DSS (Payment Card Industry Data Security Standard) apply to any job that accepts credit cards for payments, including e-commerce service providers and merchants however many retailers are confused about how these regulations affect. It is a complex standard, covering logical, physical, documentary and administrative protocols be developed transversely in the organization controls and involves suppliers and other third parties relating to ensure a degree of safety consistent not only in the own organization, but as well in those entities with which the card data are shared to create a secure environment where data flows of the dealings.

PCI/DSS breach can be a bit of a nightmare for retailers, especially SMBs that does not have staff dedicated to addressing issues of security and compliance. Well, some people jump in there; build their own platforms with little understanding of the PCI DSS. Most of the people choose to outsource much heavy work, but still have responsibilities to be aware that when a call comes, PCI auditor to cut a long story short just because his tent is made of pixels and no brick-and-mortar does not mean that the PCI Council is less interested in how to set confidential customer data.

PCI advice is necessary for all the small and medium e-commerce merchants to know and understand the frequent steps to take after a PCI breach. Many merchants may be thinking of building their own PCI compatible platforms, outline some basic aspects often neglected.

The different Online payment system is necessary for SMBs to make a quick grow online and every intruder is aware of this real fact, they all know credit card or any other payment processing capabilities play a vital role to help merchants expand in every corner of the world. Not all but a very few SMBs are unaware of the dangerous risks they have to face in a lake of PCI compliance to protect their payment process securely.  According to the ICT survey 2014, more than 80% of intruder data attacks is targeted to SMBs and without PCI compliance, big or small businesses cannot take a step toward to protect merchants, businesses and consumers. And then what happens if SMBs fails to comply with PCI Compliance standards? And how do SMBs achieve PCI compliance for better future with the business?

The cost saving measures according to an SMBs is affordability which is the first thought in their mind, but cheap accommodation is not worth the cost saving. Not all hosting providers are configured for PCI compliance, but very few are very intelligent to deploy PCI Compliant web hosting server to any small or large enterprise needs with the server configuration and security protocols to meet the latest online security standards to help protect a business against any vulnerability and malware to maintain internet security. The most basic things the SMBS should take into consideration is Shared servers bring many potential problems. PCI shared servers do not expressly prohibit it, but do not always have your database on the same server as your website. It is a lot easier to hack and get access to confidential information.

Look at the Consequences of a Credit Card Data Breach,

Customer is the true assets of SMBs and when customers hand over their personal credit/debit card details to make any payment or purchase, it resolves that they base your services reliable and ready to take a plunge with it. After the successful payments now, it is the responsibility of SMBs to secure the customer data from any intrusive activity. In a lake of PCI/DSS standards if their credit card data is stolen, then merchants have to confront the potential consequences, letting in significant fines and consequences, legal costs and defrayals, loss of customer trust and loyalty, and even the possibility of getting out of business. SMBs should analyse and understand the requirements PCI compliance for their business and act accordingly to implement it with the growing Internet security.

SMBs can achieve and improve PCI Compliance with PCI DSS v3.1 standards, which are ready to  launch and in its final phase with these changes in PCI DSS v3. 0 for SMBs,

  • Maintain a network diagram that describes data streams payment cards
  • Maintain an inventory of system components within the scope of compliance (see Cardholder Data Matrix )
  • Assess threats from malware for systems that are not commonly affected by malware
  • Updated list of common vulnerabilities to align with OWASP, NIST, SANS, etc. To be included in the insurance practice software development
  • Additional security considerations for authentication mechanisms such as hardware tokens, smart cards and certificates
  • Manipulation protection or replacement of POS terminals (POS) and other devices
  • Implement a methodology for implementing penetration testing and implementation of such tests to verify that the segmentation methods are operational and effective
  • Keep information about PCI DSS controls managed by service providers and by the entity. Service providers must recognize and accept their responsibility in maintaining PCI DSS controls applicable to them

To remain competitive in terms of security and compliance not only SMBs, but also large organizations require a structured security approach to solve unwanted Internet security issues and preserve the standards by integrating PCI DSS compliance to monitor the effectiveness of their security controls.

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