Debt Collectors Work Together To Obtain Pci-dss Compliance-捷安特xtc750

Debt-Relief Payment Card Industry Data Security Standard (PCI-DSS) is something that every debt collection agency should strive to know and follow. The Standard gives the industry the framework to develop security processes that will protect themselves and the clients for whom they work. The Standard was created to reduce the amount of credit card fraud. All debt collection agencies are required to show that they are in compliance with the Standard. When compliance is proven, the agency is able assure clients that they can offer the most consistent and secure performance possible under the federal and state regulations. But proving compliance isnt the easiest of tasks. The PCI Security Standards Council is responsible for managing security standards. The standards created apply to every organization that stores, transmits or processes cardholder data. Merchants that take credit or debit cards are also required to follow the Standard. PCI says that their requirements follow common sense standards that are not unlike security best practices. Debt collectors and other industries under the PCI umbrella follow three steps to stay in compliance. First, they assess the situation by taking inventory of their IT procedures and business process regarding payment card processing. Next, they remediate and fix areas that prove vulnerable. One of the most frequently fixed issues in this step is deleting cardholder information that doesnt need to be stored. Finally, agencies report remediation validation records and offer compliance reports to the card brands that they do business with. Every card brand has its own checklist of items for clients to go through to ensure security. American Express, for example, requires that card member information only be stored to facilitate transaction as described in their agreement with American Express. The company says that the Standard is important because compromised data impacts consumers in a negative way and that adopting the policy improves customer trust in the company. The debt collection industry would concur with this evaluation of the Standard. Debt collectors see compliance to the Standard as a way to proceed with confidence. Especially considering that the debt collection industry frequently has a lot of information about debtors, including credit card information, stored on their servers. Companies are more apt to select their debt collection agencies that can show compliance with the PCI-DSS, which means keeping an edge on the competition makes it vital to embrace the Standard. About the Author: 相关的主题文章: