Australia’s credit card security problem

breachAustralia’s credit card security problem

The whitepaper “Australia’s Credit Card Security Problem” from IP Payments has found that many Australian organisations are unaware of the standard that protects confidential customer credit card data, namely PCI compliance. As a result they are risking their reputation and damage to the brand, as well as potential fines. Mark Lewis, director at IP Payments comments:

With such a high percentage of large Australian businesses in the dark over PCI compliance standards, coupled with a number actually suffering a breach, we’d advise any Australian business that’s not sure about PCI compliance to look into the regulations and understand what is required of their business.

The survey conducted by AMR on behalf of IP Payments, questioned 150 CFOs, financial controllers and directors in some of Australia’s largest businesses.