PCI Compliance

Hi everyone,

As the number of threats, attacks, and concerns over the security of person data continue to increase, compliance to security standards is crucial to the success of a new business.  Not only do you have to account for the costs of meeting the standards initially, but you must also consider the costs associated with a data breach.  Although you may think your system is fully secure, you must always be prepared for the unexpected. Take a look at some of these statistics related to PCI Compliance:

• According to the Identity Theft Resource Center, the number of data breaches actually rose nearly 50% in 2008, compromising the personal records of at least 35.7 million Americans
• If a breach is suspected, the organization is responsible for enduring the costs associated with the investigation and the interruption of business as usual (for example: security policy, network vulnerability, and wireless security testing will occur)
• When a breach does occur the costs amount to $3-10 per card for replacement, $5000-20000 in compliance fines  (http://www.pcicomplianceguide.org/merchants-20090416-cost-data-breach.php)

Consider the impact this could have on a small startup business...