PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

SecurityMetrics Finds Unencrypted Card Data in Two-Thirds of Merchants Scanned

Mercator Advisory Group by Mercator Advisory Group
March 15, 2011
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Digital Transactions has an item today about PCI scanning vendor SecurityMetrics’ PANScan tool, which has detected unencrypted card data in nearly two-thirds of merchants that participated in a recent test. The version of PANScan used in the test is available for free download at the SecurityMetrics PANScan Web site. The article pointed to merchants’ use of payment applications that are not compliant with the Payment Application Data Security Standard (PA-DSS), failure to erase old data when new payment applications are installed, and lack of training in proper data storage techniques as the main reasons for the proliferation of unencrypted card data in merchant systems.

The merchants participating in the test ranged in size from small Level 4 merchants to the largest Level 1 merchants.

Of 478 card data scans conducted during the beta test, 303, or 63.4%, uncovered unencrypted card data, SecurityMetrics says. The tests found about 18 million cards in a scan of 67.5 million files. The maximum number of cards uncovered in a single scan totaled 1.9 million.

SecurityMetrics says it’s impossible to identify the PCI status of the merchants storing unencrypted card data since the PANscan tool is available to anyone for free download and use. Merchants weren’t asked whether they were in compliance with PCI.

Many merchants are unaware that their systems are storing the unencrypted data, says Brad Caldwell, chief executive of SecurityMetrics. “One of the biggest things we hear from merchants is ‘I had no idea I had this data. I talked to my developer and he didn’t say he was storing card data,’” Caldwell says.

Click here to read more.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023
    liquidity management

    Liquidity Management Takes on Increasing Importance in Uncertain Economic Times

    March 14, 2023
    payments

    Key Challenges from Growing Payment Methods and Volume

    March 13, 2023
    Data Governance is a Journey, financial data

    How FIs Can Power Their Operations with a Modern Data Architecture

    March 10, 2023
    ISO 20022

    How Banks Can Realize Business Benefits and Reduce Payments Fraud With ISO 20022

    March 9, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Autorek complimentary report: Payments Industry Outlook 2023: