Is your organization compliant with the Payment Card Industry Data Security Standard (PCI DSS) version 4.0?
This major update of the standard went into effect on March 31, 2024, mandating a dozen new and updated requirements. Organizations that process, store or transmit payment card data must have controls to address threats such as phishing attacks. They must also have strong authentication, including multifactor authentication (MFA) for all users accessing the cardholder data environment. Organizations that fail to implement these and other controls could face hefty fines and penalties.
The PCI Security Standards Council has taken steps to make compliance more flexible. Like previous versions, PCI DSS 4.0 has a long list of defined requirements broken into 12 categories. However, the latest version allows organizations to use alternative controls if they are as effective as the defined requirements. The objective is to shift the focus to ongoing compliance rather than “quick fixes” to pass an annual assessment.
Other Regulatory Requirements
PCI DSS isn’t the only regulation that concerns data security. Here are just four of the many compliance requirements organizations of all sizes face today:
- Healthcare organizations must comply with the Health Insurance Portability and Accountability Act (HIPAA), which includes rules for ensuring patient privacy by properly handling medical records.
- The Gramm-Leach-Bliley Act (GLBA) mandates that financial services firms ensure the security and confidentiality of their customers’ personal and financial information. They must also notify customers of what information they collect and how they use, protect and share it.
- Public companies are subject to Sarbanes-Oxley (SOX) regulations that mandate internal controls and procedures for ensuring the integrity of their financial information. Many private entities use SOX as a framework for risk management and compliance.
- Fifteen states have comprehensive data privacy laws that apply to all organizations, and several others have laws applying to specific industries or data types. Many of these laws apply to any organization that meets certain guidelines, even if that organization does not have a physical presence in the state.
Achieving and Maintaining Compliance
Because these regulations tend to overlap in their requirements, organizations should take a holistic approach to compliance. That starts by developing a compliance program with processes for assessing regulatory requirements and the business and technical impact of various security controls. The program should stress continuous improvement by measuring against a compliance maturity model.
However, as data breaches continue to make headlines, regulatory agencies and industry groups are strengthening security requirements and imposing harsher penalties for noncompliance. Organizations that don’t have in-house security and compliance teams often struggle to keep up.
Partnering with a qualified managed services provider (MSP) can relieve regulatory compliance headaches. The MSP will have greater expertise in IT security and follow proven processes based on industry best practices. The MSP will also employ sophisticated monitoring, management and reporting tools that reduce risks and prepare your organization for compliance audits and assessments.
How Verteks Can Help
Verteks facilitates regulatory compliance in several ways. We proactively monitor and manage your network to meet the latest security standards. We ensure that your data is backed up and can be restored should disaster strike. We apply patches and software updates as they become available and stay abreast of emerging security threats. Because both regulations and your IT environment are constantly changing, we will advise you of the impact of these changes and help you develop a plan for maintaining compliance.
Getting outside help for regulatory compliance makes good business sense. Although compliance is critical, it’s not a core business function. By partnering with an MSP, you free up in-house staff to focus on your organization’s mission and goals.
Verteks understands the complexities of government and industry regulations and the consequences of noncompliance. Let us shoulder some of the compliance burden so that you can reduce risk while focusing on activities that drive your business forward.
