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Information security in a real-world business or government agency - Research Paper/ - Case Study Example

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Credit card companies handle private and sensitive information about customers; hence it has to follow various security policies. This case study focuses on credit card processing company CardSystems…
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Information security in a real-world business or government agency - Research Paper/ Case Study
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Information security in a real-world business or government agency - Research Paper/

Download file to see previous pages... Later in 2005, Cardsystems implemented payment cardholder information (PCI) which was assembled by security standards council (SSC) to address the changing technology. With the advancement of wireless technology, the SCC added various guidelines to PCI to hamper data theft through wireless medium. The case will highlight the guidelines of having wireless security. The case also cites the importance of using open source security.
Credit cards have become very popular and are being widely used by the consumers. It enables the bearer of card to buy goods and services from retailers and merchants. With the boom in Internet marketing or e-business, credit cards have become important it is convenient and easier to buy from the Internet. The credit cards offer many benefits like credit rating, rewards for the use of the credit cards and are also a useful tool to manage expense. Examples of company offering credit cards are Visa, American express, Discover and MasterCard. They offer their services to banks and other businesses for the usage of credit cards.
Credit cards companies and businesses dealing with credit cards store important and sensitive information like social security number, birth date and home address. Hence, they are prime target by the hackers and are very vulnerable to data theft and data leak. To address the issue of information security, Visa and MasterCard had developed their own security standards in 2001 like Visa’s cardholder information security program (CISP) and MasterCard’s site data protection program (SDP). These programs were initiated for the protection of data and information in an effort to prevent credit-card data theft. These programs had become a required criterion for businesses handling credit-card transactions from financial banks to universities (Stamp, 2005, Pg 172).
The scandal of 40 million credit card numbers being stolen from CardSystems in June, 2005 rocked the world around. Analysts debated ...Download file to see next pagesRead More
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