24.10.2011 General, News, Small Business, Updates Comments Off

Small businesses struggle with credit card security

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Hardly a week goes by without news accounts of a major data breach.

The immediate reaction is to think of sophisticated hackers. But many breaches Scott Smith, vice president, Max Restaurant Groupinvolve a lack of basic security steps. Recently, for example, medical and financial records of 4.9 million clients of Tricare, a medical claims processor, were exposed when a backup tape was stolen from an employee’s car.

For large businesses, data breaches mean loss of customer confidence and the prospect of heavy fines.

For small business owners, it can be a life-or-death struggle. But experts say most problems can be avoided by keeping up with security standards set out by the major credit card firms.

Businesses handling transactions via credit or debit cards face the daunting daily task of ensuring that they are in compliance with the latest Payment Card Industry Data Security Standards (PCI DSS). These standards are created by the major credit card issuers to protect consumer’s personal information and ensure security when transactions are processed…read more here


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