What happens if im not pci compliant

Lawsuit is a very possible outcome if the information of various bank card holders has been endangered. In , approximately 1. Once your security has been endangered, it will be very difficult for your clients to start trusting you again. If your company is big and operates with a large volume of clients, the Federal Trade Commission can decide to perform frequent audits to make sure that you comply with the security standard.

It is evident that the cost for getting and staying PCI compliant is pale in comparison to the potential costs and fines associated with data breach. The good news is that just by adopting the PCI DSS operating guidelines, entities can mitigate many, if not all of these risks. Additional obligations excite few people, however the most productive way for merchants to think about PCI compliance is as a set of continuously evolving security best practices benefitting their business.

Engaging a Qualified Security Assessor QSA company such as Control Gap can simplify the process and help your organization adopt these practices and achieve compliance. Contact us at 1.

Cybersecurity can be difficult , why not let Control Gap guide you. Trying to attempt the complicated process on your own can, in some cases, steer a business down the path of being PCI Non-Compliant. This leaves your company and clients at risk in multiple ways, as this blog will demonstrate. Non-compliance can lead to many different consequences such as monthly penalties, data breaches, legal action, damaged reputation, and even revenue loss.

Clearly, it is vitally important for merchants to maintain PCI Compliance and avoid the fees and costs associated with non-compliance.

Each credit card processing and payment solutions company can set their own rates and fees so the costs to maintaining PCI Compliance will vary depending on your current payment processing solutions and provider. You can read more about all of the costs associated with PCI Compliance on our previous blog here.

There is a lot of complexity to preparing and maintaining PCI Compliance. The average merchant should not try to do it all alone.