PCI Group demand stricter security measures

The Payment Card Industry Group is demanding and enforcing stricter security measures in relation to customers' credit card details, and this comes in light of a series of serious security breaches at some major retailers and shops, including petrol stations and even the popular clothing store, TK Maxx. It is hoped that the increased security measures that are put into place as a result of the new measures being put into place by the PCI Group will help consumers to enjoy greater peace of mind after the shock of realizing just how easily credit card details could be stolen, as illustrated by the security breach that took place at TK Maxx.

With the new measures in place the PCI Group hopes to eliminate or greatly reduce the risk of mass theft of credit card information occurring again in the future, as well as to improve security and peace of mind for those wishing to make transactions through the use of a credit card. Although it may prove costly to them as a result of having to invest in new software and equipment, retailers will have to comply with the new measures that are put in place, and if they fail to do this they could face severe penalties and hefty fines.

The measures are more in-depth for higher risk retailers, which are those that process a higher number of credit card transactions. Quarterly system scans and annual auditing will form part of the new security measures and checks being imposed by the PCI Group. There has been a rise of nearly seventy percent in the number of people that have had to seek advice over the last year as the result of becoming a victim of identity theft.

Amongst the members of the PCI Group are Visa, American Express, and Mastercard. The PCI Group will have the power to ensure that the new measures are adhered to by retailers in order to improve security, or will be able to issue penalties for non-compliance.

Tom Smith
24th May 2007