Karel Ruth's Blog

Ensuring PCI DSS (Payment Card Industry Data Security Standard) compliance should not be a break-fix move. Every organisation that has to ensure PCI compliance must have processes in place to ensure continuous compliance. In reality, it has been found otherwise. Organisations seem to be setting up the measures only for the purpose of the audit. There are many reasons - including the high cost of maintaining the needed best practices. However, organisations must wake up and understand the value and benefits of continuous PCI compliance.  Some organisations start abiding by the compliance rules only after they suffer a breach or compromise of data that leads to significant data loss, financial damages, and litigation suits. These litigation have led to loss and closure of organisations. Audits conducted after the compromise revealed that organisations that had earlier passed the audit were also not PCI compliant at the time of the breach.  Courtesy: Net Even if o...

The financial services industry can benefit immensely from adopting cloud technology. Other industries have already gained considerable benefits out of cloud technology, which has served as a boost to faster. To embrace cloud computing the financial services industry must comply with EU General Data Protection Regulation (GDPR) rulings and the PCI DSS (Payment Card Industry Data Security Standard). This is being considered as quite a difficult task that has put off many in the financial services industry to embrace cloud computing. Cloud computing offers immense benefits including flexibility, better efficiency, and value. Flexibility enables users to scale services, customise programs/applications, and access cloud services through the internet from anywhere. Cloud computing drastically reduces the cost of infrastructure, which by itself is a major advantage.  The threat to data security, migration cost, and stringent regulations have been the dampener till now. Ho...

Everyone loves digital wallets. They've made our lives more convenient. We are no longer required to wait in queues to buy something. Just a click on your smartphone, tablet or computer, and whatever you need will be delivered to you without any delay. Just like that! This is the brighter side of using digital wallets. So is there a darker side too? Yes, there is. And it takes the form of digital criminals who are looking for every opportunity to snatch away your digital wallet from you. In other words, the conveniences offered by your digital wallet can, at times, be overshadowed by the security risks they pose. This is especially true if a robust security infrastructure is not in place to secure the transactions you make via your digital wallet. What Improves Your Digital Wallet's Security?   1. PCI Compliance: Payment Card Industry Data Security Standards (PCI DSS) plays a major role in regulating how your credit or debit cards are handled online. S...