What is the Payment Card Industry Data Security Standard?

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to protect consumers’ financial and personal information when using payment cards, such as debit and credit cards. The standards were designed and implemented by the major payment card brands such as Visa, Mastercard, American Express, and Discover. In Delaware, banking law states that all businesses accepting payment cards must comply with PCI DSS standards. PCI DSS is based on twelve core security requirements that cover computer and network security, encryption of data, and the testing of security systems. These requirements include creating strong passwords, protecting cardholder data, blocking public access to data, using firewalls, and encrypting customer data. Additionally, companies must submit annual PCI DSS compliance reports detailing their security measures and any changes made to them. PCI DSS helps ensure that businesses in Delaware are taking the necessary steps to protect their customers’ payment card information. It also helps to reduce the risk of fraud, identity theft, and other cyber-related crimes. By adhering to the standards set by PCI DSS, businesses in Delaware can be sure that they are providing the highest levels of security for their customers’ financial and personal information.

Related FAQs

What is the Community Reinvestment Modernization Act?
What is FDIC insurance?
What is the Garnishment Bank Act?
What is the difference between a bank and a mortgage lender?
What is required for a loan to be considered “secured”?
What is the Truth in Lending Act?
What is the Federal Banking Agency Regulatory Relief Act?
What is the Community Reinvestment Act?
What is the Electronic Funds Transfer Act?
What is the Debt Collection Improvement Act?

What is the Payment Card Industry Data Security Standard?

Related FAQs

Related Blog Posts