Casewise®, the thought leaders in Business Processing Modeling, Enterprise Architecture and IT Compliance & Governance, has today announced the release of a new PCI-DSS (Payment Card Industry Data Security Standards) compliance model. The model provides an in depth insight in how to simplify the alignment of business processes ensuring credit card merchants and service providers meet with all six PCI-DSS self assessment areas and the overall audit checklist with easy to use frameworks and mapping tools.
The PCI DSS version 1.1 is a set of comprehensive requirements for enhancing payment account data security. Developed by the founding payment brands of the PCI Security Standards Council, the PCI has been designed to help facilitate the broad adoption of consistent data security measures on a global basis. Being multifaceted, the security standard includes requirements for security management, policies, procedures, network architecture, and software design and is intended to help organizations proactively protect customer account data.
As with many compliance projects, the most obvious benefit is that of avoiding the penalties of failing to comply. Penalties for non compliance to the PCI standard vary by credit card brand and contract, but generally include high fines of up to $500,000 per instance of non compliance, and, in extreme cases, denial of credit card processing capabilities.
The Casewise PCI-DSS process model is aimed at assisting organizations achieve compliance status to the standard whilst helping organizations to systematically and proactively protect themselves from the liabilities and potential costs of credit card data misuse, customer identity theft, and cybercrime. The model also offers organizations the ability to make informed, practical decisions about security technologies and solutions and thus increase the return on information security investments.
Casewise has built a unique library of pre-constructed Best Practice Frameworks, Regulatory Compliances, ISO Standards and Industry models, all of which are highly regarded by many organizations and highly acknowledged by leading analyst companies. All of the models within the library can be cross-linked and associated to one another enabling the detection and elimination of duplications across multiple compliances. A highly focused solution is therefore delivered for each compliance regime, but more importantly, a compliance management strategy that offers total harmonization and unification.
For further information on Casewise PCI-DSS model and additional pre-constructed frameworks, please visit our Fastrack section.