Reduce your risk of payment card fraud with Lobster Ink and PwC
No business is immune to breaches in security, especially when it comes to payment card fraud. In addition, the more client data you hold, the more severe the consequences of a breach become.
According to the Nilson Report, global fraud losses (by general purpose and private label cards) hit a staggering $21.8 billion in 2015. By 2020, that figure is projected to surpass $31.6 billion.
In Verizon’s ten years of PCI DSS compliance investigation, they have never found a company that was fully compliant at the time of a payment card security breach. This is not to say that being compliant eliminates risk completely, but the risk is greatly reduced with the implementation of best practices.
When it comes to payment card fraud, people are the weakest point in the system. A company is vulnerable if its staff are not trained to spot the warning signs and take action when suspicious activity occurs.
This is especially true of small businesses, which are targeted because their card security is expected to be poor. 90% of small businesses are impacted by data breaches, according to a Trustwave report.
The best way to combat this problem and protect the interests of your organisation and your guests is to educate your staff on PCI DSS awareness.
“Training staff is more important than ever.” — that’s according to Jeremy King, International Director of the PCI Security Standards Council. “Some companies have asked for a friendly phishing attack in order to test staff awareness and something like 25% of employees fail… but it’s worse at board level where 33% fail.”
In response to this potentially debilitating business threat, Lobster Ink has partnered with industry leaders PwC to develop a training programme that combines their extensive knowledge and industry experience with our technology enhanced learning platform.
The PCI DSS Awareness course will help your staff identify the risks associated with handling sensitive payment card data and empower them with best practice principles in the ongoing battle against payment card fraud.