Banks and credit card security, wheres the outrage?
The PCI-DSS, the ungainly acronym for payment card industry data security standards, has been roundly criticized as of late by government officials and industry executives. The Associated Press piles on with an investigation that has concluded that “the banks and other companies that handle your information are not being nearly as cautious as they could.” The article notes data from Privacy Rights Clearinghouse that more than 70 retailers and payment processors have disclosed breaches since 2006, involving tens of millions of credit and debit card numbers. The failure of the PCI-DSS standard–many of the breached firms were in compliance–has been big news for a while now. Visa certainly has its work cut out for it as it aims to upgrade the standard. The AP takes a look at the big “acquiring banks,” as well–“the banks that retailers use as middlemen between the stores and consumers’ banks. Those banks are responsible for ensuring that retailers are PCI compliant.” The reporter attempt
