What is the Payment Card Industry Data Security Standard?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of standards created by the Payment Card Industry Security Standards Council (PCI SSC) to ensure banks and other financial institutions in Alaska adhere to secure data practices when handling customer payment information. PCI DSS helps provide customers with peace of mind that their payment data is securely handled and protected, while also ensuring banks in Alaska comply with necessary security standards. The standard applies to any entity that stores, processes, or transmits customer payment card information, and includes 12 basic requirements which must be met. These security requirements include keeping cardholder data secure with encryption, implementing secure access control measures, implementing measures to constantly monitor and test networks for security weaknesses, and developing an information security policy. PCI DSS also requires banks and financial institutions to maintain an audit trail of access to customer payment data, so any data breaches can be quickly identified and addressed. Additionally, banks and merchants must regularly update their anti-virus software and must avoid using vendor-supplied default passwords on all systems. Overall, PCI DSS provides all banks and financial institutions in Alaska with a comprehensive standard to protect customer payment data, ensuring customers can trust that their data is securely handled and protected.
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