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inside-images-breach-newHow EMV (or chip cards) impacts your business
Visa says - The benefits of a chip card include enhanced security, leading to a reduction in card-present counterfeit fraud, and enhanced international acceptance, as EMV chip cards are currently used in 130+ countries.  It’s critical to understand what the October 1, 2015 Fraud Liability Shift means. 

MasterCard says - The Fraud Liability Shift is not a mandate – meaning there is no penalty if you do not meet this date.  However, as many other merchants move to secure their payments with chip technology, fraudsters may focus on those merchants that have not yet upgraded and there is a risk that you could become a target of fraud.

PCI and how it affects your business
Visa says - Compliance is required of all entities that store, process, or transmit Visa cardholder data, including financial institutions, merchants and service providers. 

MasterCard says - All merchants that store, process or transmit cardholder data must be PCI compliant. Each merchant that is categorized as a Level 1, Level 2, Level 3 or Level 4 merchant is required to report its compliance status directly to its acquiring bank.

Level 1:
Over 6,000,000 transactions annually
(Usually National)
Level 2:
Between 1,000,000 – 6,000,000 transactions annually
Level 3:
Between 20,000 – 1,000, 000 E-commerce transactions annually
Level 4:
All other transaction amounts

Here are some common sense rules to make your business secure*:

  • Keep your security software up to date by making timely firewall updates
  • Change your passwords frequently and use strong passwords (talk to us for more detail)
  • Make sure your business is PCI compliant. A large majority of breaches happen because the merchant was not PCI compliant at the time of their breach. Achieving PCI compliance is not a guarantee against keeping the bad guys out…but the numbers show that being compliant will put the odds in your favor
  • Don’t browse social media or message friends on the same computer used to process financial information. You leave yourself vulnerable to breaches
  • Don’t allow employees to log into computer networks remotely using easily stolen passwords or credentials
  • Establish security guidelines. SMB owners should create data policies and offer training to ensure employees can handle sensitive and personally identifiable information. The National Cyber Security Alliance found that only 28 percent of U.S. small businesses have formal Internet security policies, leaving the remainder at risk.

*Small- to Mid-Size Businesses: The New Target for Hackers by Robert O. Carr, February 23rd, 2015