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PCI Regulation Discussion Summary

PCI DSS is Payment Card Industry Data Security Standard, a collaborative effort to achieve a common set of security standards for use by entities that process, store, or transport payment card data. This applies to: all merchants that “store, process, or transmit cardholder data” and all payment channels including brick-and-mortar, mail, telephone, and e-commerce.

PCI Standards

  • Install and maintain a firewall configuration to protect card holder data
  • Do not use vendor-supplied defaults for system passwords and other security parameters
  • Protect stored cardholder data
  • Encrypt transmission of cardholder data across open, public networks
  • Use and regularly update anti-virus software
  • Develop and maintain secure systems and applications
  • Restrict Access to cardholder data by business need-to-know
  • Assign a unique ID to each person with computer access
  • Restrict physical access to cardholder data
  • Track and monitor all access to network resources and cardholder data
  • Regularly test security systems and processes
  • Maintain a policy that address information security

PCI Winners & Losers
The winners will be Visa, MasterCard, and others, Consulting and security firms, and possibly (though this has not been determined) consumers. The merchants certainly lose.

PCI Complicance
Air France is currently undergoing a multi-million dollar effort to comply with PCI. It is attempting to reduce the number of applications that use credit cards, record processing requirements, and are implementing encryption and PCI storage in the network.

Some questions raised involve liability issues, for example who to assign liability to when fraud happens. Also it is unclear how outsourcing will effect security and compliance with PCI.