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02/03/2010 -
Many business professionals - especially in IT departments - understand the importance of implementing and maintaining proper payment processing security measures. But what happens when the person in charge of the company's purse strings does not understand this concern, and is reluctant to invest money in achieving PCI compliance? Turn to the general counsel or head of internal audit, said Bob Lewis, president of tech consultancy IT Catalysts. In an article written for InfoWorld, Lewis said that these two executives are most likely to care about compliance issues such as those concerning the PCI-DSS, which regulates payment processing security.
These executives are also most likely to "push the issue with the rest of the executive team, up to and including the CEO," Lewis wrote.
It may also be helpful to emphasize the consequences of noncompliance. Aside from fiscal damages, which can reach into the thousands (or even into the millions, for a company with enough payment processing data), businesses often experience significant reputational damage as a result of a security breach, thereby risking the survival of the company.
