Gearing up for 2022: PCI Pal Releases Top-Level Insights To Prepare Businesses for a New Year of Cyber Crime
22 Noviembre 2021 - 08:00AM
Business Wire
Geoff Forsyth, CISO, PCI Pal highlights key
trends and predictions on how to navigate the security challenges
in the year ahead
PCI Pal (LON: PCIP) - If there is one word that has been
cemented into our heads over the course of the pandemic, it has
been “unprecedented.” And while we saw a lot of new challenges pop
up, they don’t seem to be going away anytime soon and will likely
grow in number and complexity. With WFH still the norm for many
companies, 2021 should’ve been the year that businesses cemented
their digital practices, ensuring that security was woven into each
process given the consistent news around data breaches. However,
it’s clear that there’s a lot more work to be done and as we enter
2022 and the unprecedented situation continues, the expectations
are set. Consumers want businesses to ensure their payments are
safe, and businesses need to have a concrete game plan in motion to
make consumers feel secure. With this in mind, PCI Pal’s CISO Geoff
Forsyth outlines his predictions and considerations for the new
year:
- Stop fearing the unknown and focus on existing threats.
Next year, we shouldn’t be focused on seeking out new forms of
fraud, but rather focus on the shift and re-emergence of existing
iterations. As card-present payments fall farther behind
card-not-present, payment webpages are more likely to be
compromised by good old fashioned third-party scripts or attacks.
2021 had an abundance of new payment processes emerge, but across
these new vendors we saw an obvious lack of security expertise,
which allowed fraudsters to use old tricks to attack vulnerable
shoppers. As more and more payments go online, the wider the
landscape is for scammers to attack.
- Businesses need to reset and re-evaluate their security
strategies this new year. Security in industries like IT and
finance need to be reviewed on a consistent basis, to ensure that
the company's bases are covered. During the early months of 2021,
infrastructure suddenly became a visible and critical focus for
businesses as teams raced to enforce old practices under new
restrictions, uncovering new challenges and threats along the way.
As society keeps progressing digitally and the urgency to meet
security needs continues to grow, businesses need to reset and
reorganize. Companies were racing to restructure their old
strategies but, in their rush, security precautions could have
fallen by the wayside.
- The primary security risk for payments lies in the varying
types of payments that merchants choose to accept from their
customers. While there will always be new patches, protocols
and plans for addressing security, the overarching issue largely
remains unchanged. So instead of addressing new concerns with new
solutions, companies must first implement the tried and true
security basics that can still protect against many vulnerabilities
and attack vectors. One measure of security risk worth careful
consideration by all businesses is the OWASP Top Ten.
- Cryptocurrencies will always be an appealing and exciting
option for some businesses and brands, but it will not endear them
to governments. Whilst it is easy for companies to overlook the
implications of the consumed processing resources and
decentralization of currency, governments have yet to get on board
- many are even soft-banning cryptocurrencies in various types of
transactions.
You can look at financial fraud like garden weeds: Weeds grow
slowly over time, stripping away the life from smaller,
less-resilient plants until they grow too large and noticeable.
Even if the roots of that weed are fully destroyed, the seeds of
other invasive or parasitic species remain and the garden remains a
paradise of nutrients to steal. Akin to weeds, fraud will always be
present, and though attacks by governments on major criminal rings
can scatter or shut down a large volume of fraud, they don’t make
the issue disappear. Our solutions to alleviating fraud have been
tentative, while the issue keeps growing more vicious. In 2022,
it’s time to get serious about cybersecurity - there’s no longer an
excuse.
Contact PCI Pal today to learn how our secure payment solutions
can protect customer data and your business from whatever 2022 may
bring.
About PCI Pal:
PCI Pal® is a leading provider of SaaS solutions that empower
companies to take payments securely, adhere to strict industry
governance, and remove their business from the significant risks
posed by non-compliance and data loss. Our mission at PCI Pal is to
safeguard reputation and trust by providing our customers with
secure Cardholder Not Present payment solutions for contact centres
and businesses.
Our products secure payments and data in any business
communications environment including voice, chat, social, email,
and contact centre. We are integrated to, and resold by, some of
the worlds' leading business communications vendors, as well as
major payment service providers.
The entirety of the product-base is available from our global
cloud platform hosted in Amazon Web Services ("AWS"), with regional
instances across EMEA, North America, and ANZ. PCI Pal products can
be used by any size organisation globally, and we are proud to work
with some of the largest and most respected brands in the
world.
For more information visit www.pcipal.com or follow the team on
Linkedin: https://www.linkedin.com/company/pci-pal/
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version on businesswire.com: https://www.businesswire.com/news/home/20211122005043/en/
Maddie Graham pcipal@sourcecodecomms.com
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