PCI Credit Card Security Risk, Readiness & Compliance for Financial Institutions

This session will describe the latest updates to the compliance standard, present solutions to common adherence challenges, and provide clear strategies for managing the risk and compliance needs related to credit card security. If some of the nuances might be new to you or need refreshing, consider this convenient opportunity to get the latest information.

The PCI DSS (Payment Card Industry Data Security Standard) has been in place for over 15 years. In that time, the standard has had three major revisions, including the release of version 4 in the first quarter of 2022. Financial institutions find themselves functioning in multiple roles: card issuers, acquirers, merchants, and service providers. This session will address common misconceptions and challenges seen in financial institutions including:

• “The card data is all encrypted, so we don’t have to worry about it.”
• “We outsource to XYZ so we are not responsible for compliance.”
• “No one has asked us for a compliance report.”
• “We can’t make the core system compliant so there is no point in the rest of it.”
• “There is no electronic card holder data in our VoIP system or our data warehouse or….”