With the recent changes to Visa and Mastercard’s merchant accounts many companies are not aware of what this means to them and how it can affect potential online trade.
“As a merchant, you are now obliged to ensure that any card data you process is safe and secure. In the event that card data is stolen, or hacked, from your system and subsequently fraudulently used, you are liable for the subsequent losses and potentially unlimited fines from the card schemes. PCI DSS compliance will minimise the risks of card data compromise to your business."
HSBC – Merchant Account Notifications
“The last 6 months has seen a dramatic increase in organised crime involvement in the hacking of websites to siphon credit card details. With this comes a dramatic increase in risk to online traders because of Visa and MasterCard’s new merchant rules introduced at the beginning of 2009 and their ability to impose massive unlimited fines to recover their losses against the online trader.”
Richard Matthews – Internet Security Specialist
How do you work out if you could be liable?
Quantum Web recommends you check with your merchant provider to see if you are affected by the changes. (If you do not take or store credit card details on / in your website this will not affect you.
If card processing is carried out directly on your site Quantum Web recommends you ensure your site is scanned against any new vulnerabilities that may appear from time to time. To do this Quantum Web recommend the world’s foremost leading brand in web security McAfee Secure.
On another note McAfee clients see an average increase of 11% in sales when using the system!
