With cybercriminals targeting the most vulnerable people at the cost of businesses, organizations must implement security measures to get ahead of these criminals in 2021
PCI Pal®, the global provider of cloud-based secure payment solutions, is encouraging organizations today on Data Protection Day 2021 to implement a culture of security to make year-round compliance a priority, to safeguard customers’ payment card data amid rising cyber-fraud risks.
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“A whole-company approach is needed so everyone within the organization is aware of the important obligations and penalties for non-compliance; regular assessments should be in place with all staff so they are kept updated on the risks and understand the importance of security best practice.”
With reports from the Royal United Services Institute (RUSI) stating that credit card, identity and cyber-fraud has reached “epidemic levels” and become a “national security threat”, PCI Pal’s Chief Information Security Officer, Geoff Forsyth, is urging organizations to adopt a data and payments security compliance plan for 2021.
“Organizations should be sufficiently prepared with the ongoing resources that are required to maintain year-round measures,” Forsyth explained. “A whole-company approach is needed so everyone within the organization is aware of the important obligations and penalties for non-compliance; regular assessments should be in place with all staff so they are kept updated on the risks and understand the importance of security best practice.”
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Verizon’s 2020 Payment Security report found – for the third year running – that just over a quarter (27.9%) of organizations assessed had maintained full Payment Card Industry Data Security Standard compliance during their interim compliance validation, meaning a majority who were previously assessed as fully compliant, were not compliant at their interim validation.
The continuous data breaches and cyber-fraud, targeting vulnerable people who are fearful of the ongoing pandemic and looking for quick fixes, are a reminder to organizations about the importance of security for their businesses. On this Data Protection Day, it’s more essential than ever to be prepared against online security threats.
