Credit card fraud is becoming increasingly common due to the evolution of technology. Sure, technologyâ€™s evolution means a whole new batch of opportunities, but it means that we are exposed to a whole lot of new threats as well. As this is true, scammers and criminals are getting creative and have been using a lot of 2.0 tactics and high tech ideas to scam merchants â€“ especially those that are not PCI compliant.
PCI compliance is a big deal, and recent studies show that even though most of the merchants know that it can save a lot of people a lot of worries â€“ 44% of them remain PCI incompliant.
Whatâ€™s the biggest cause?: An all-too common merchant mindset that PCI compliance is a long and difficult process, perhaps one that is not worth completing. The reality, however, is that the road towards compliance is relatively easy to navigate and well worth the effort, and can greatly deter credit card fraud.
PCI stands for Payment Card Industry, and being PCI Compliant means that you have a multiple layer security model that will erect a stone barrier for cyber criminals — one that they will only pass if they are the greatest hackers in the world or if they are willing to spend hundreds of hours understanding the encryption â€“ and letâ€™s face it, they will just follow up to another business that is PCI incompliant and work their dastardly deed.
Do you want to be that unprotected merchant? Do you want to have the payment data security breach that can ruin somebodyâ€™s life including your own?
Consequently, itâ€™s so important to underscore the message that a PCI compliant merchant can better thwart credit card fraud, surely contributing to a better and safer society.
As the criminalsâ€™ creativity increases, our responsibility and social awareness must increase too â€“ we have the duty to do everything in our power to stop evil doers get their â€śgameâ€? rolling, and if you have the right tools and resources you can be sure that becoming PCI Compliant is as easy as one â€“ two â€“ three.
So, what are you waiting for to take the right step? Itâ€™s so important to fill out and submit a PCI Self-Assessment questionnaire and the Attestation of Compliance, answering questions about how you store, process, and transmit credit card data.
Ensure that your system has a firewall (assuming Internet connectivity), determine whether patches (pieces of software designed to fix problems or update systems) are current, install antivirus protection, consistently change passwords, log off remote access when not in use, and, of course, check to see if your POS itself is PCI-compliant.
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