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A concise overview of the payment card industry data security standard (pci dss). It outlines key aspects such as what pci stands for, the definition of pci-dss, and a significant historical case of credit card fraud involving tj maxx/marshalls. The document details the formation of the pci security standards council, the standard's role in determining liability after data breaches, and essential security measures companies must implement to protect credit card information. It also touches on merchant compliance levels and the incentives and fines associated with visa compliance. This information is crucial for understanding the basics of pci compliance and its importance in safeguarding financial data. The document serves as a foundational resource for individuals seeking to grasp the core principles and requirements of pci dss.
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Payment Card Industry correct answer PCI stands for what? PCI-Data Security Standards correct answer a worldwide information security standard defined by the Payment Card Industry Security Standards Council. Jan 2007; TJ MAXX/Marshalls correct answer What company is the posterchild for credit card fraud? date? suspected hacking of computers storing cc info correct answer what happened at TJ Maxx/Marshalls? between 45 and 94 million accounts correct answer how many accounts were hacked? $139 million; pretax income=$,1247 million correct answer how much was the loss? compared to pretax income? the PCI Security Standards Council was formed by the big 5 cc companies: Visa, Mastercard, American Express, Discovery, JCN correct answer What was formed in September of 2006? by who/whom? the PCI-Data Security Standards correct answer what are now the starting point for determining liability when a breach occurs? securely dispose of unneeded data, perform inventory of services, databases, transactions and activity logs, identify all physical and logical entry and exit points, use data encryption, log off all network activity, train staff correct answer What 6 things must companies now do to keep cc info secure? level 1 merchant, level of requirement is higher 65% correct answer do more than 6 billion transactions per year:
level 2 merchant, level of requirement is lower 43% correct answer do more than 1 million transactions per year: compliance correct answer visa has implemented incentives and fines for what? yes correct answer Is PCI compliance considered during an audit?