The PCI DSS (payment card industry data security standards) was established in 2004 by major card brands (i.e., Visa, MasterCard, American Express, Discover Financial Services, and JCB International).
The standard provides an actionable framework for developing a robust account data security process - including preventing, detecting and reacting to security incidents.
Applies to any entity that stores, processes and/or transmits CHD.
|Total Possible Cost||$50,000 - $773,000+|
|Merchant processor compromise fine:||$5,000 – $50,000|
|Card brand compromise fees:||$5,000 – $500,000|
|Forensic investigation:||$12,000 – $100,000|
|Onsite QSA assessments following the breach:||$20,000 – $100,000|
|Free credit monitoring for affected individuals:||$10 – $30/card|
|Card re-issuance penalties:||$3 – $10 per card|
|Breach notification costs:||$1,000+|
With the latest development of GDPR, any company that does business in EU countries will be fine for failing to protect personal information, which includes payment card data, is up to €20 million (about £17.8 million) or 4% of annual global turnover – whichever is greater.
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