Why is PCI Compliance Important? FINANCIAL RISK – fines from payment processor and/or credit card companies – costs to notify cardholders – repayment
{"Image DocumentName": "Why is PCI Compliance Important?", "Image ImageDescription": "FINANCIAL RISK. fines from payment processor and/or credit card companies. costs to notify cardholders. repayment of fraudulent charges incurred by end consumer. audit costs by PCI assessor. LOSE THE ABILITY TO PROCESS CREDIT CARDS \u2013 CAMPUS WIDE. REPUTATIONAL RISK! OPPORTUNITY TO ENHANCE SECURITY/IT BEST PRACTICES. (Stacey) So why is this important to us and to you?! Or why should you pay some attention to our presentation today. Helps to ensure our systems are secure and reduces risk of a breach\u2026. \u2026if it is discovered that a security breach occurred b/c you were not compliant liability includes: First and foremost the: FINANCIAL RISK. fines from payment processor (moneris) and/or credit card companies. costs to notify cardholders. repayment of fraudulent charges incurred by end consumer. audit costs by PCI assessor \u2013 you\u2019ll be under much more scrutinty and be required to have yearly external security audits which can be costly. Could LOSE THE ABILITY TO PROCESS CREDIT CARDS \u2013 CAMPUS WIDE \u2013 not just the one merchant who caused the problem \u2013 affects ALL merchants. REPUTATIONAL RISK!! \u2013 won\u2019t be your bookstore or small department running a conference that had a breach and gets mentioned in the media \u2013 it will be the University as a whole. (NOTE \u2013 as told to us when we had a security audit done that we\u2019ll talk about later on \u2013 it\u2019s not IF you have a breach it\u2019s WHEN you have a breach \u2013 how you deal with it that will minimize the financial liability)", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}