PCI DSS - National Bank of Dominica

National Bank of Dominica
Ltd. 2011 Merchant Seminar
Facilitator: Janiere Frank
Fraud & Compliance Analyst
June 16, 2011.
Legal Disclosure
These materials are provided for informational purposes only and should not be relied upon for
marketing, legal, regulatory or other advice. You should independently evaluate all content and
recommendations in light of your specific business needs, operations and policies as well as any
applicable laws and regulations. Caribbean Credit Card Corporation Ltd. is not responsible for your
use of these materials, including errors of any kind, or any assumptions or conclusions you might
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A brief review of the Payment Card Data Security Standards
Requirements and Relevance
What is PCI DSS?
 PCI DSS is:
 A set of requirements established by the Payment
Card Industry Security Standards Council (PCI SSC)
to protect cardholder data.
 The founders of the PCI SSC:
Visa Inc., MasterCard Worldwide, American Express,
Discover Financial Services and JCB International
What is PCI DSS?
 There are six (6) main goals and twelve (12) basic requirements of
the PCI DSS.
Is PCI DSS relevant to me?
 Compliance with the PCI data security standards is
mandatory for ALL entities that store, process or
transmit cardholder data.
 This includes merchants, acquirers, processors and
other participants in the industry.
Why Comply?
 Benefits of compliance:
 Helps to create a secure environment for customers
 Increased customer confidence
 Greater Market Leverage
Why Comply?
 Consequences of non-compliance:
 Fines and penalties
 Termination of ability to accept payment cards
 Lost confidence, so customers go to other merchants
 Lost sales
 Cost of reissuing new payment cards
 Legal costs, settlements and judgments
 Fraud losses
 Higher subsequent costs of compliance
 Going out of business
What do I need to protect?
PCI DSS Quick Reference Guide
Understanding the Payment Card Industry Data Security Standard version 2.0, October 2010
What do I need to protect?
PCI DSS Quick Reference Guide
Understanding the Payment Card Industry Data Security Standard version 2.0, October 2010
What do I need to protect?
 Points from which cardholder data can be stolen:
 Compromised card reader
 Paper stored in a filing cabinet
 Data in a payment system database
 Hidden camera recording entry of authentication data
 Secret tap into your store’s wireless or wired network
PCI DSS: An Ongoing Process
 Assess – take an inventory of IT
systems and business processes to
identify cardholder data and
determine vulnerabilities.
 Remediate – fix vulnerabilities;
don’t store card data unless
 Report – submit compliance
reports to your bank.
Common Myths of PCI DSS
 Myth 5 – PCI DSS is unreasonable; it requires too
 Myth 7 – We don’t take enough credit cards to be
 PCI DSS compliance is required for any business
that accepts payment cards – even if the quantity of
transactions is just one.
 Myth 8 – We completed a SAQ so we’re compliant

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