PCI DSS applies to merchants and other entities that store, process, and/or transmit cardholder data. While the Council is responsible for managing the data security standards, each payment card brand maintains its own separate compliance enforcement programs. Each payment card brand has defined specific requirements for compliance validation and reporting, such as provisions for performing …
The goal of the PCI Data Security Standard (PCI DSS) is to protect cardholder data and sensitive authentication data wherever it is processed, stored or transmitted. The security controls and processes required by PCI DSS are vital for protecting all payment card account data, including the PAN – the primary account number printed on the …
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The twentieth century U.S. criminal Willie Sutton was said to rob banks because “that’s where the money is.” The same motivation in our digital age makes merchants the new target for financial fraud. Occasionally lax security by some merchants enables criminals to easily steal and use personal consumerfinancial information from payment card transactions and processing …
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Information security management — Guidelines for cyberinsurance 3 Terms and definitionsFor the purposes of this document, the terms and definitions given in ISO/IEC 27000 and the following apply.ISO and IEC maintain terminological databases for use in standardization at the following addresses:— ISO Online browsing platform: available at https: //www .iso .org/obp— IEC Electropedia: available at …
Information security management — Guidelines for cyberinsurance 4 Structure of this documentGuidelines are given in Clauses 5 to 8.Clause 5 provides information and a general description of cyber-insurance; Clause 6 discusses cyber-risk of an organization that can be covered under a cyber-insurance policy. Both Clause 5 and Clause 6 are of relevance to both the …
Information security management — Guidelines for cyberinsurance 5 Overview of cyber-insurance and cyber-insurance policy 5.1 Cyber-insurance Cyber-insurance is a risk treatment option that can compensate the insured against potentially significant financial losses associated with a cyber-incident. Cyber-insurance is provided by an insurer who underwrites risks by signing and accepting liability, thus guaranteeing payment to the …
Information security management — Guidelines for cyberinsurance 6 Cyber-risk and insurance coverage 6.1 Risk management process and cyber-insurance A cyber-insurance policy generally allows the insured to reduce losses from cyber-risks through the sharing of these risks with an insurer.An organization should be protected from cyber-risks by using a process that actively predicts, identifies, assesses, treats …
Information security management — Guidelines for cyberinsurance 7 Risk assessment supporting cyber-insurance underwriting 7.1 Overview The process for creating a cyber-insurance policy, also referred to as the underwriting process, typically involves a number of preparatory activities to assist in determining whether to accept the insured’s cyber-risk and to determine an adequate price for the cyber-risk …
Information security management — Guidelines for cyberinsurance 8 Role of ISMS in support of cyber-insurance 8.1 Overview ISO/IEC 27001 provides organizations with a structured management framework for an ISMS designed to establish, implement, maintain and continually information security. An effective ISMS allows an organization to:a) identify, analyze, and address its information security risks;b) continually secure …
Information security management — Guidelines for cyberinsurance Scope This document provides guidelines when considering purchasing cyber-insurance as a risk treatment option to manage the impact of a cyber-incident within the organization’s information security risk management framework. This document gives guidelines for: a) considering the purchase of cyber-insurance as a risk treatment option to share cyber-risks;b) …
