PCI stands for Payment Card Industry and the goal of PCI compliance is Information Security. Six years ago, to combat an increase of payment card breaches and associated fraud, the major payment card brands joined forces to form the Security Standards Council (PCI SCC), and developed the Payment Card Industry Data Security Standards (PCI DSS). The PCI DSS was developed to encourage and enhance cardholder data security and facilitate the broad adoption of consistent data security measures globally. All organisations that accept, acquire, transmit, process and/or store cardholder data are obligated to continuously protect cardholder data to the minimum requirements set forth in the PCI DSS.
In 2012, Financial Services will commence a project to ensure the University is compliant with the PCI DSS by developing and implementing policies and guidelines to support Faculties and Divisions in achieving compliance and mitigating risks. We are currently in the discovery phase of the project where face to face interviews are being conducted. These consultations will provide the University with an overview of current business practices and requirements. Utilising this research and working jointly with ITS, PCI compliant guidelines and policies will be developed and implemented. The project has an estimated timeline of 12 to 18 months.
The project will be overseen by the PCI Steering Committee. The project team will work collaboratively with the PCI Action Team to achieve the desired outcomes. The project team is led by Jamie Dunnicliff (Manager, Financial Operations and Leena Brij (PCI Compliance Project Officer).
We understand the fluid nature of both security and technology. As our understanding of assurance principles, risk management and security governance grows and changes over time, the manner in which we go about protecting sensitive data will no doubt continue to evolve. If you would like to know more about PCI Compliance and Security Standards please click on the following link – PCI Security Standards or contact Leena Brij on ext. 30088.