Episode #11: What is PCI?
In the world of information security, you will come across a lot of acronyms. One that pops up frequently is PCI-DSS, and in this episode, we ask our AI friend to explain what it all actually means for an everyday person...
Episode #11: What is PCI?
What is PCI?
PCI stands for Payment Card Industry. It is a set of data security standards (DSS) for organizations that handle credit and debit card information. These standards are designed to ensure that sensitive cardholder information is protected against fraud and other forms of data breaches. PCI compliance is required for all merchants and organizations that accept credit or debit card payments.
How do PCI data security standards protect my credit card information from being stolen?
The Payment Card Industry Data Security Standards (PCI DSS) are a set of security standards that are designed to protect sensitive credit card information from being stolen or compromised. These standards include a variety of different requirements and controls that organizations must implement in order to be compliant. Some examples of these controls include:
Requiring firewalls to be set up to protect cardholder data
Encrypting sensitive cardholder data when it is transmitted over a network
Using secure passwords and authentication methods to protect cardholder data
Regularly monitoring and testing networks to detect and prevent breaches
Implementing strict access controls to prevent unauthorized access to cardholder data
Maintaining a security incident response plan in case of a breach
Regularly monitoring for vulnerabilities and implementing software updates to address them.
By implementing these and other security controls, organizations can significantly reduce the risk of sensitive credit card information being stolen or compromised.
So, when I use my credit card online to purchase something, the company I am purchasing through must encrypt my credit card information as it is sent to them?
Yes, that is correct. According to PCI DSS requirements, all sensitive credit card information must be encrypted when it is transmitted over a network, including the internet. This helps to protect the information from being intercepted and stolen by malicious actors.
There are a few common encryption methods that are used to protect credit card information, such as Secure Sockets Layer (SSL) and Transport Layer Security (TLS). These encryption methods are designed to scramble the credit card information so that it is unreadable to anyone who intercepts it. When you make an online purchase, you can usually tell if the website is using encryption by looking for a padlock icon in the address bar of your web browser, or by looking for "https" in the website's URL, instead of "http".
It's important to note that the encryption must be from the point of entry, the moment the credit card information is entered, to the point of storage, so any information stored must be encrypted as well.
I frequently see new articles where large volumes of credit card data have been hacked. How is this possible if organisations must meet PCI DSS requirements?
While the Payment Card Industry Data Security Standards (PCI DSS) provide a strong set of guidelines for protecting credit card information, it is still possible for breaches to occur. There are a few reasons for this:
Organizations may not be fully compliant with PCI DSS requirements. They may not have all the necessary controls in place or may not be regularly monitoring and updating them.
Hackers and cybercriminals are constantly developing new methods for stealing credit card information, and organizations may not be able to keep up with the latest threats.
Third-party vendors and service providers may not be fully compliant with PCI DSS, which can create vulnerabilities in an organization's overall security.
Human error such as employee mistakes or accidental data exposure can also lead to breaches.
It's important to note that the PCI DSS requirements are a set of guidelines that help organizations to secure cardholder data, but they can't guarantee that a breach will never happen. However, it's important that organizations take the necessary steps to comply with the standards and to regularly assess and update their security measures to reduce the risk of a data breach. It's also important for customers to monitor their credit card statement and report any suspicious activities, which can help to detect a breach and minimize the damage caused.
Is there an easy way for me to be able to identify organisations that are 100% PCI-DSS compliant?
There is no easy way for individuals to determine if an organization is 100% PCI DSS compliant. Compliance with the PCI DSS standards is determined through an assessment process that is conducted by a qualified security assessor (QSA) or an internal security assessor (ISA) that is authorized by the Payment Card Industry Security Standards Council (PCI SSC). Organizations are required to complete an annual self-assessment questionnaire (SAQ) or an on-site assessment, depending on the level of cardholder data they handle.
That being said, you can check if an organization has a PCI DSS validation certificate on display which is a sign of compliance. However, it is important to note that a certificate does not guarantee the organization is fully compliant. Also, the certificate may not be up-to-date and the organization may have since fallen out of compliance.
The best way to protect yourself from fraud is to monitor your credit card statements regularly and to report any suspicious activities to your bank. Additionally, you can look for the padlock icon in the address bar of your web browser when making online purchases and make sure that the website's URL starts with "https", which indicates that the website is using encryption to protect your credit card information.
What is the difference between URLs that start with 'HTTP' instead of 'HTTPS'?
The main difference between URLs that start with "HTTP" and "HTTPS" is the level of security they provide.
"HTTP" stands for Hypertext Transfer Protocol. It is the standard protocol used for transmitting data over the web. When a website uses HTTP, the data sent between the website and your web browser is not encrypted, which means that it can be intercepted and read by anyone who is able to access it.
"HTTPS" stands for HTTP Secure. It is the same protocol as HTTP but with an added layer of security. When a website uses HTTPS, the data sent between the website and your web browser is encrypted using Secure Sockets Layer (SSL) or Transport Layer Security (TLS) encryption. This means that even if someone intercepts the data, they will not be able to read it.
When making online purchases or providing personal information, you should always look for the padlock icon in the address bar of your web browser and make sure that the website's URL starts with "HTTPS" to ensure that your information is being transmitted securely.
In summary, HTTPS provides an added layer of security by encrypting the data being sent and received, providing a secure connection and protecting sensitive information like credit card information, personal data and login credentials from being intercepted.
Gotcha! If I see a website that starts with 'HTTP' I should be cautious about what information I submit through the website because it could be intercepted by hackers. How else should I protect my credit card details?
In addition to looking for "HTTPS" in the website's URL, there are other ways you can protect your credit card details:
Use a credit card instead of a debit card: Credit card transactions have more robust fraud protection than debit card transactions.
Use a virtual credit card: Some financial institutions and credit card issuers offer virtual card numbers that can be used for online transactions. These numbers are different from your actual credit card number and can be cancelled if they are compromised.
Use a payment service such as PayPal or Apple Pay: These services offer an additional layer of security by not sharing your credit card information with merchants.
Always check for the padlock icon in the address bar of your web browser: This icon indicates that the website is using encryption to protect your information.
Check your credit card statement regularly: Review your credit card statement regularly to ensure that all transactions are legitimate.
Avoid posting pictures of your credit card on social media.
Be wary of unsolicited emails or phone calls asking for personal information.
By following these best practices, you can help to protect your credit card information and reduce the risk of fraud.
Can you write an inspirational quote about ‘not posting selfies with your credit card’?
"Be wise with your information, guard your credit as you would guard your reputation, for in the digital age, they are one and the same."