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In mid-2022, the newest Payment Card Industry Data Security Standard (PCI DSS) update was released. PCI DSS v4.0 contains 64 new guidelines for securely handling sensitive payment card data. Organizations have until March 2024 to update their security measures to comply with 13 of the new standards, and the remaining changes will take effect in March 2025.
Aligning with the latest payment security best practices is key in protecting customers’ private data from breaches and cyber attacks, and there are significant consequences for businesses that don’t comply. Ultimately, failing to meet new requirements will mean losing the ability to process credit card payments. However, bringing security efforts into compliance with new regulations is often time-consuming and resource-intensive.
A trusted Managed Detection and Response (MDR) provider can be a powerful ally in these efforts, especially regarding new security monitoring requirements. Let’s explore the challenges of compliance, the role of MDR in compliance efforts, and how the MaxxMDR Bundle from CyberMaxx can help you with your PCI 4.0 transition.
The PCI 4.0 Compliance Challenge
Before the release of PCI 4.0, the last major update to credit card payment security standards occurred in 2018. Needless to say, the landscape of payment technology has changed since then. For example, in 2018, credit cards were used in 46% of all North American eCommerce transactions, and digital wallets were used in 20%. By 2022, the share of digital wallet payments had grown to 32%, overtaking credit cards in prevalence.
The new guidelines in PCI 4.0 address many concerns related to new technology and emerging threats in the world of payment security. Some noteworthy areas of focus include:
- Protecting cardholder data with strong cryptography during transmission over open, public networks
- Installing and maintaining network security controls
- Tracking and monitoring all access to network resources and cardholder data
- Protecting stored account data
- Restricting access to system components and cardholder data according to business roles
- Identifying users and authenticating access to system components
Businesses must analyze existing security measures and implement new safeguards to complete their PCI 4.0 transition. Suppose implementation deadlines come, and your security measures fall short of PCI 4.0 requirements. In that case, you’re not only risking your customers’ security and trust — there can also be fines and other consequences if you fail to comply.
Introduction to CyberMaxx and the MaxxMDR Bundle
One of the best ways to ensure compliance ease in your PCI 4.0 transition is to partner with an MDR vendor. Bringing in an outside expert empowers you to meet the latest payment security demands, especially those surrounding network monitoring and tracking. CyberMaxx is uniquely positioned to help with PCI 4.0 requirements because we offer services in a number of PCI categories, including MDR, GRC/PCI QSA, offensive security services, firewall management, and more.
MaxxMDR from CyberMaxx is designed to help your organization detect, analyze, investigate, and respond to cyber threats quickly, thus mitigating potential impacts and preventing future issues. All standard MaxxMDR services include 24/7 monitoring and management and alert escalation services. Premium options include:
- Quarterly hunt and detect in EDR
- Endpoint purple team
- Discounted advanced DFIR rates
- Annual VIP public data reconnaissance
- Annual external penetration test
At CyberMaxx, we believe offense fuels defense. We advocate for the use of a strategic combination of offensive and defensive security measures to maximize protection.
Key Features of the PCI 4.0 Add-on Package
In addition to the standard MDR services included in the MaxxMDR Bundles, we offer an add-on package tailored to help companies with their PCI 4.0 transition.
- A PCI 4.0 gap assessment performed by a PCI Qualified Security Assessor (QSA)
- Firewall configuration reviews (2x/year)
- Completing a PCI Audit for a Report on Controls (ROC) or a PCI Self-Assurance Questionnaire (SAQ) with attestation of compliance (AOC)
- Cardholder data environment (CDE) external/internal/segmentation testing (annual)
CyberMaxx QSAs receive intensive training and must pass an examination set forth by the PCI Security Standards Council. Working with a QSA remotely or on-site at your location ensures alignment with all requirements outlined in the latest PCI DSS update.
Benefits of the MaxxMDR Bundle in PCI 4.0 Transition
While you can and should leverage your internal team during the PCI 4.0 transition, there are many benefits to an MDR engagement like MaxxMDR, including:
- Enhanced security: MaxxMDR integrates defensive and offensive measures to safeguard all of your systems and data — not just payment systems.
- Cost-efficiency: MaxxMDR is a cost-effective solution, as it reduces the need for additional full-time hires and allows you to eliminate excessive tools and services.
- Streamlined process: The MaxxMDR Bundle offers a simplified and structured approach, reducing the time spent on compliance-related activities.
- Proven expertise: The CyberMaxx team has advanced and specialized knowledge of compliance requirements and potential threats.
CyberMaxx: Committed to Comprehensive Security
A smooth transition to PCI 4.0 will help you build customer trust and avoid business disruptions. Most of all, it provides cardholders with continuous protection from online threats.
CyberMaxx has specialized expertise to help organizations of all sizes navigate complex compliance landscapes — including regulations relating to PCI DSS v4.0.
Listen to our industry expert explain what you need to know about PCI 4.0 here.