The swift progress of e-commerce could be halted by a growing crisis of confidence amongst consumers about the security of their credit cards. A recent Mori survey, commissioned by Secerno (the UK supplier of database security technology), found a massive 95% of consumers concerned about data theft and 63% of adults worried about the ability of data centres to protect their information.
By Alison Campbell-Boreham – IT Security Journalist
Time is running out for organizations that handle credit card payments to make their systems PCI compliant. In less than two months, the Payment Card Industry (PCI) Security Standards Council, which represents credit card companies, will bring the PCI Data Security Standard (DSS) into force to help safeguard customer data. But there are fears that many businesses, particularly smaller retailers, government departments and utility companies, will not be ready in time and could face fines.
The UK’s Financial Services Authority (FSA) fined a French private bank £350,000 ($700,000 and €500,000) in May because its weak security systems allowed a senior manager to steal £1.4m from clients’ accounts over three years. The fine is the first levied against a private bank.
Gartner has recently published its annual SIEM Magic Quadrant report, viewed by many as ‘the eye on our industry’. It reports on evolution in security information and event management and spotlights the changes taking place in terms of vendor products and implementations.
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