Credit card security 'needs improving'

By Mozo ·

The security provisions protecting those with credit cards may need to be improved in light of a recent report by Verizon.

In the Final Report of Compliance, it was found that only one-fifth of organisations met with the requirements laid out during the Initial Report of Compliance.

Areas companies most often failed to address with regards to credit card details were protecting stored data, maintaining adequate security policies and ensuring that measures taken were tested effectively.

Mark Goudie, managing principal Asia-Pacific, stated: "Organisations tend to treat this as a once-a-year assessment, where they need to clean up because the assessor is coming."

In Victoria last week, a data compromise led a number of credit and debit cards to be cancelled and reissued by banks.

Customers were urged to regularly check their bank accounts to ensure there were no unexpected or unauthorised transactions.

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