In today's economy, companies are trying to assess if they can afford to become PCI compliant. What many of those same companies forget to consider whether they can afford not to be compliant. Since 2007, merchants who were found to be non-compliant with PCI DSS faced fines of $5,000 to $25,000 per month from Visa. It may seem expensive for merchants to install and maintain new security measures to become PCI compliant and validated, but these costs are only a fraction of what it would cost a company to be found in non-compliance or suffer a data breach. Learn more about PCI DSS compliance and how NeoSpire Managed Hosting can help.
THE COST OF PCI COMPLIANCE NEOSPIRE'S PCI In today's economy, companies are trying to assess if they can afford to become PCI compliant. What many of those same companies forget to consider whether they can afford not to be RESOURCE CENTER: compliant. Since 2007, merchants who were found to be non-compliant with PCI DSS faced . File Integrity fines of $5,000 to $25,000 per month from Visa. All the other major card brands soon followed Monitoring with their own fines. These new standards and strict compliance tracking came about due to the increase in data breaches beginning in 2005. According to DataLossDB.org data breaches . Log reached a high of 558 instances in 2008 and are still a growing threat today. Management It may seem expensive for merchants to install and maintain new security measures to become . Anti-Virus PCI compliant and validated, but these costs are only a fraction of what it would cost a Protection company to be found in non-compliance or suffer a data breach. Non-compliance can also . Intrusion result on the suspension of credit card services from the large credit card institutions. Detection Examples: . PKI Services . VPN . Heartland Payments Inc. announced in January, 2009 that they had experienced data breaches sometime in 2008. On May 7, 2009, Heartland executives claimed a loss of Management $2.5 million for the quarter was directly attributed to the breach. Approximately $1 . System million of which was fines issued by the credit card institutions, while the rest of the Hardening cost came in the form of bank reconciliations, reporting costs, civil litigation, and security upgrades. In total, the breach has cost the company a total of $12.6 million . Dedicated Cisco which does not account for future losses due to their reputation as a payment Firewall processing company being damaged and loss of future customers. . One Year Event . TJX Companies suffered a breach in January 2007 of 94 million customer's cardholder Log Archival data. Hackers exploited a weakness in TJX's wireless networks and were able to extract . Daily Security valuable financial data from card transactions. In August 2007, TJX estimated that the breach had cost them $256 million, about 10 times higher than what originally thought. Log Review Costs include fixing the company's computer systems, handling lawsuits, and dealing . Two-Factor with investigations. Authentication NeoSpire's PCI Solutions . Penetration Testing Investing in proper PCI security measures is not only responsible, but also a sensible . Separate Web investment. The NeoSpire's PCI Resource Center was created to give our customers a comprehensive collection of professional services, hardware, and software to not only assist in and Database achieving PCI standards compliance, but protect against security breaches. Servers . PCI Consulting Knowing you have a trusted member of the PCI Security Standards Council on your side to address PCI concerns, doubts can be put to ease. With NeoSpire you can assure that all PCI Services concerns about standards will be fully met. Many requirements will be handled by NeoSpire . .and more! directly, and our team will be there to assist you with everything else. Call your account executive to learn more today. ... [download for more]
