The Caribbean Credit Card Corporation Ltd.

National Bank of Dominica Ltd. 2011 Merchant Seminar

Facilitator: Janiere Frank

Fraud & Compliance Analyst

June 16, 2011.

Legal Disclosure These materials are provided for informational purposes only and should not be

relied upon for marketing, legal, regulatory or other advice. You should independently evaluate all content and recommendations in light of your specific business needs, operations and policies as well as any applicable laws and regulations. Caribbean Credit Card Corporation Ltd. is not responsible for your use of these materials, including errors of any kind, or any assumptions or conclusions you might draw from their use.

Use of the following information is the sole and exclusive responsibility of the user.

Payment Card Industry Data Security Standard (PCI DSS)

A brief review of the Payment Card Data Security Standards Requirements and Relevance

What is PCI DSS?PCI DSS is:

A set of requirements established by the Payment Card Industry Security Standards Council (PCI SSC) to protect cardholder data.

The founders of the PCI SSC: Visa Inc., MasterCard Worldwide, American Express,

Discover Financial Services and JCB International

What is PCI DSS?There are six (6) main goals and twelve (12) basic

requirements of the PCI DSS.

Is PCI DSS relevant to me?Compliance with the PCI data security

standards is mandatory for ALL entities that store, process or transmit cardholder data.This includes merchants, acquirers, processors

and other participants in the industry.

Why Comply?Benefits of compliance:

Helps to create a secure environment for customers

Increased customer confidenceGreater Market Leverage

Why Comply?

Consequences of non-compliance:Fines and penaltiesTermination of ability to accept payment cardsLost confidence, so customers go to other merchantsLost salesCost of reissuing new payment cardsLegal costs, settlements and judgmentsFraud lossesHigher subsequent costs of complianceGoing out of business

www.pcisecuritystandards.org

What do I need to protect?

PCI DSS Quick Reference GuideUnderstanding the Payment Card Industry Data Security Standard version 2.0, October 2010

What do I need to protect?

PCI DSS Quick Reference GuideUnderstanding the Payment Card Industry Data Security Standard version 2.0, October 2010

What do I need to protect?Points from which cardholder data can be

stolen:Compromised card readerPaper stored in a filing cabinetData in a payment system databaseHidden camera recording entry of

authentication dataSecret tap into your store’s wireless or wired

network

www.pcisecuritystandards.org

PCI DSS: An Ongoing ProcessAssess – take an inventory

of IT systems and business processes to identify cardholder data and determine vulnerabilities.

Remediate – fix vulnerabilities; don’t store card data unless needed.*

Report – submit compliance reports to your bank.

Common Myths of PCI DSSMyth 5 – PCI DSS is unreasonable; it

requires too muchMyth 7 – We don’t take enough credit

cards to be compliantPCI DSS compliance is required for any

business that accepts payment cards – even if the quantity of transactions is just one.

Myth 8 – We completed a SAQ so we’re compliant

QUESTIONS