Yesterday, members of the National Retail Foundation and others appeared before Congress, specifically the House Homeland Security Committee and blasted the PCI data security standards. Dave Hogan, Sr. VP and CIO called it “a tool to shift risk off the banks’ and credit card companies’ balance sheets and place it on others.” The CIO for Michaels Stores backed up that claim by pointing out that financial institutions do not accept encrypted transactions.
In response, Robert Russo, director of the PCI Data Security Standards Council, regurgitated the standard line: . “We have never found a breached entity to be in full compliance at the time of breach.”
Retailers: Credit card data inadequately protected | Politics and Law – CNET News
FOLLOW UP to the post
The recordings of the hearing are now posted on the Homeland Security website
In addition, you can find a lot of comments on twitter by clicking this link.
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