FICO fight back on card fraud

FICO, the leading provider of analytics and decision management technology announced that it will protect “about one in three of the estimated 30 million credit cards in Germany, and a similar share of credit cards in Austria and Switzerland”. By Spring 2012, they expect to safeguard 9.7 million credit cards, due to “FICO´s exceptional expertise in card fraud detection”.

Phillip Sertel, FICO’s senior director, said: “Within the last two years, the number of credit cards in Germany has significantly increased, and the growing adoption of credit cards as a preferred payment vehicle has attracted fraudsters.” In recent months, FICO has emerged as a “leading provider of fraud detection” in central Europe and is said to be the most accurate and comprehensive solution for detecting payment card fraud.

The PCI DSS (Payment Card Industry Data Security Standard) provides an actionable framework for developing a robust payment card data security process – including prevention, detection and appropriate reaction to security incidents.Businesses throughout Europe are being urged to become compliant with this standard. This ensures customer confidence and is a great reassurance for new clients.

The Standard basically requires merchants and member service providers (MSPs) who store, process or transmit cardholder data to:

  • Build and maintain a secure IT network
  • Protect cardholder data
  • Maintain a vulnerability management program
  • Implement strong access control measures
  • Regularly monitor and test networks
  • Maintain an information security policy

PCI DSS Documentation Compliance Toolkit (V2.0)  is specifically designed to help payment card-accepting organisations quickly create all the documentation required to affirmatively answer the requirements of the PCI DSS as set out in the Self Assessment Questionnaire (v2.0). This  toolkit contains a full set of documentation templates for the all mandatory PCI DSS policies, as well as implementation guidance and ISO27001 cross-mapping. These templates are developed out of those contained in our best-selling ISO27001 ISMS Documentation Toolkit and, therefore, are capable of being integrated into an ISO27001 ISMS.