Report: Most businesses fail to meet card security standards
New York – A new Verizon report has found that too many businesses, following their annual assessment for meeting the Payment Card Industry Data Security Standard, fail to maintain ongoing compliance – putting the businesses at an increased risk for data breaches, and financial and reputational damages.
The “Verizon 2014 PCI Compliance Report” indicates that payment card transactions remain a prime target for attackers, and the rate at which data breaches are occurring appears to be increasing. According to the report, in most cases, payment card data breaches are not a failure of security technology or of compliance with the Payment Card Industry Data Security Standard (PCI DSS), but rather a failure to implement appropriate compliance and security measures as intended.
However, organizations’ initial compliance with the PCI standard has shown some improvement. In 2013, more than 82% of organizations were compliant with at least 80% of the PCI standard at the time of their annual baseline assessment, compared with just 32% in 2012.
There were also regional differences due to breach notification laws, varying legal requirements and levels of adoption. The Asia-Pacific region took the top spot (75%), followed by the U.S. with 56% and Europe with 31% in meeting at least 80% of the PCI requirements.
Areas where businesses struggle the most in achieving initial compliance include: security testing (23.8%); security monitoring and the ability to effectively detect and respond to data compromised (17%); and protecting stored sensitive data (55.6%).
“We continue to see many organizations viewing PCI compliance as a single annual event, unaware that compliance needs to have a 365 day-a-year focus,” said Rodolphe Simonetti, managing director, PCI practice, Verizon Enterprise Solutions. “Anything less than 100% compliance is an issue for businesses today. We have seen time and time again that noncompliance leaves an organization open to credit card theft, which can potentially cost hundreds of millions of dollars when you factor in all the damages, not to mention lost consumer trust and the impact on brand reputation. Organizations need to rethink how they factor in maintaining a PCI-compliant environment, whether it’s devoting more resources or working with a managed security services provider.”
360pi releases new pricing/assortment suite
Ottawa, Canada – Price and product intelligence technology vendor 360pi has launched 360insights, a suite of integrated visualizations and dashboard reports that gives retailers real-time visibility into how they can immediately increase revenues and margins through adjustments to their pricing and product mixes. Retailers can have this same visibility into their own competitor and category set and the power to identify opportunities and take meaningful actions that will drive revenues and margins.
The initial release of 360insights features five self-service dashboard reports that enable retailers to see top-level trends by competitor and category, with the ability to drill down to specific products or SKUs. For example, 360pi’s ThreatMap provides an at-a-glance demonstration of relative price competitiveness by category and retailer.
“Many retailers have struggled to find the key pricing opportunities and threats that are hidden in ever-increasing volumes of data, compromising their ability to take effective action,” said Alexander Rink, CEO, 360pi. “360insights is a real game changer for retailers that have, until now, been unable to ‘see the forest for the trees’, highlighting pricing trends across categories and competitors and delivering specific insights down to the product level that retailers can act on daily.”
Portable water purifier to be distributed by Eco Depot
Eco Depot has signed a letter of intent with Water Technology Development to distribute a new portable water purification device called the WaterGizzi. Eco Depot plans to market the product as part of its eco-friendly product line, which also includes the Click and Pour and the recently acquired WaterGeeks filtration brand.
WaterGizzi weighs only a few ounces and fits into the palm of your hand, the company said. It has the ability to function as an in-line filter for sports water bottles or hydration bladders, or can be used on its own to drink from any freshwater source. It requires no pumping or mechanical power to effectively remove chlorine, heavy metals, bi-products, bacteria and other potentially harmful contaminants.
HotTVBrands.com is set to produce a DRTV ad campaign featuring the product in foreign travel, outdoor recreation and emergency preparation in addition to daily replacement for additional bottled water.
Eco Depot was formerly an "eco-lighting" distributor but is in the development stage of transitioning into a manufacturer and distributor of eco-friendly consumer products.