The importance of constant PCI DSS compliance

The Payment Card Industry Data Security Standard (PCI DSS) is currently in the middle of a three year lifecycle, with the existing 2.0 iteration having been in place since October 2010.

The good news is that some industry insiders are predicting that the next update will not bring wholesale changes, however this is no excuse to let correct PCI DSS compliance standards slip.

PCI DSS compliance is a constant commitment, an on-going process rather than a one-time event, so businesses need to be consistently aware of the manner in which they operating.

Furthermore, with issues surrounding new technology such as cloud storage emerging regularly, it is important that your business remains aware of the latest threats and requirements surrounding processing consumer information.

While all this might sound overwhelming, it is nothing compared to the potential risks involved in not having adequate PCI DSS adherence.

This is because by leaving your business open to the threat of data theft, you also make yourself vulnerable to lawsuits and legal consequences as well.

Recent highly publicised security breaches, such as those which affected Yahoo! and LinkedIn, have offered proof of the way businesses can be tripped up by potentially substandard security protocols.

For these reasons, it is essential to remain PCI DSS compliant throughout the whole year rather than only at times that suit you. After all, the danger of cybercrime or mismanaged data is something which never goes away.

Remember that by ensuring compliance, you can offer your employees a commitment of security that encourages trust and repeat business.

The benefits of continued PCI DSS compliance extend to business to business relationships as well by improving your reputation with acquirers and payment brands – essential to a healthy business environment.

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