PCI Dss Compliance Standards help keep your credit card transactions safe

The Payment Card Industry Data Security Standard is a worldwide information security standard which oversees PCI Dss compliance. It was assembled by the Payment Card Industry Security Standards Council (PCI SSC). The compliance standards were created to help organizations that process card payments prevent credit card fraud. Look for companies that adhere to these compliance standards. It means that strict standards are applied to the organizations, which hold, process, or pass your cardholder information from any of your cards.

Organizations handling large volumes of transactions must have their PCI DSS compliance assessed by independent assessors commonly referred to as QSA or Qualified Security Assessor. Enforcement of the compliance is done by the bodies holding relationships with the in-scope organizations. So organizations processing Visa or MasterCard transactions recognize PCI DSS compliance. Look for banking and credit card institutions that recognize these standards to protect your bottom line. In today’s computer focused world, it is imperative that you protect your money and your identity.

Strong authentication protects your identity. Strong authentication means that a special procedure for authenticating your identity is put into motion before a third party can access your information. For instance, when you call your bank in order to obtain you balance and you are asked for a personal code or personal information that is pertinent to you after you have given your pin number, strong authentication is being put into play. Strong authentication is smart, for rather than using only a single form of authentication, it requires the addition of a secondary factor, meaning the addition of something the user has or something the user is. For instance, every time a bank customer visits their local ATM machine the first authentication factor is the physical ATM card the customer slides into the machine and the second factor is the PIN they enter.

Online banking security prevents online account fraud and provides real-time risk management solutions that protect online channels. A good online banking security system will support the end-to-end online risk management process with rich analytics and behavior-based modeling. When examining companies, such as credit card companies and banks, make certain that the online banking security system they use offers an analytics-based software solution that addresses the entire risk management lifecycle. Research the different online banking security systems and companies that are out there in order to protect your self, your family, and all of your assets.

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For more resources regarding Smart Cards or even about HIPAA Compliance and especially about Two Factor Authentication please review these pages.

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