50% of companies are failing payment security compliance
50% of companies have failed or are not compliant with payment transactions security standard, poll finds.
According to a recent poll by SentryBay, the UK-based cybersecurity software company, the infrastructure of over 21% of surveyed companies has failed key PCI compliance assessments designed to assist them in maintaining high-security standards when processing customer card payments. In addition, a further 29.3% said that they had no confidence in their own company’s compliance when it came to PCI DSS.
The poll conducted earlier this month on Twitter amongst cybersecurity professionals also found a lack of confidence in the PCI standards within today’s hybrid working environments. More than 50% said that they believed PCI regulations were not relevant or needed adjusting to suit current working models.
The PCI DSS standard mandates that organisations maintain a secure network and systems to host transactions, including a properly configured network firewall to protect cardholder data and restrict data access to those with a genuine business need.
This isn’t proving easy, as the SentryBay poll found out. When asked what the biggest challenges were to ensuring compliance, 30.7% said it was too complex, while 23.6% thought that the process’s contradictions were the biggest barrier.
For businesses trying to manage their evolving security landscapes as the workforce remains in flux following the pandemic, addressing the numerous security requirements of PCI is a daily task. Over 24% of respondents said that educating employees on PCI compliance was their biggest challenge.
Dave Waterson, CEO at SentryBay, said: “Data security and compliance are common challenges across every touchpoint of the customer journey, and companies should have more confidence in the standards and their own ability to adhere to them, however tasking this is. Organisations should work towards being compliant and secure simultaneously by changing their culture to address the layers of security required to meet standards.”
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About SentryBay
SentryBay is a pioneer in technology that approaches security issues from a different – and more proactive – perspective. Endpoint data protection is essential to provide a secure, cloud-based IT ecosystem that avoids the weaknesses inherent in both technology and users. SentryBay’s “secure framework” within which applications can run – underpinned by multi-layered anti-keylogging technology – allows these weaknesses to be overcome. The company’s product is used by some of the world’s largest enterprises – from global banks and a central bank to small, medium and large enterprises.
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