Compliance plays an integral role in a company’s performance and productivity. Payment Card Industry Data Security Standard (PCI DSS) has become one of the most effective security standards to maintain a secure environment in enterprises. However, experts believe that the latest version, PCI DSS 4.0, will be dramatically better and more efficient than its predecessor. Reported to be launched in the first quarter of 2022, PCI DSS 4.0 focuses on end-to-end personal data protection and will incorporate different technological and methodological business initiatives. In his article for Corporate Compliance Insights, Chris Pin talks about the significance of PCI DSS 4.0 in modern companies.
New Additions in PCI DSS 4.0
Pin states that the specificity quotient is the fundamental difference between PCI DSS 4.0 and its predecessor. Depending on the current market situation, there are three new characteristics that organizations can look forward to from 4.0:
- Customization – 4.0 replaces compensating controls with customized implementation, focusing on your project’s original intent. Depending on that, a company can design its security framework to meet its demands. Once the company designs its security framework depending on its projects, it must provide complete documentation to the PCI Qualified Security Auditor (QSA). The QSA would review the security framework, suggest the necessary changes, or ask the company to go back to the prescriptive control requirements.
- Cloud and Serverless Computing – The basic controls of the 3.2.1 version are not compatible with the modern IT developments that deal with cloud computing and security. PCI DSS 4.0 can incorporate cloud computing and provide secured cloud and serverless frameworks.
- Control Requirements – 4.0 would be offering new control techniques, such as cardholder data encryption over any transmission, including those within trusted networks.
Tips to Incorporate PCI DSS 4.0
There are three basic steps that can help you increase your efficiency when using PCI DSS 4.0:
- Evaluate – Complete an audit to better understand the cardholder data, inventory IT assets, and business processes. The evaluation and assessment of predetermined data also help you analyze potential vulnerabilities.
- Remediate – If you encounter any vulnerability, make sure you resolve it before moving to the next step. If your organization needs to retain the cardholder data, have a qualified body for proper investigation and remediation techniques.
- Report – Once done with the compliance report, assemble the information and submit all the records of remediation and compliance.
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