Compliance and security go hand in hand: exposure and vulnerability to risks on the security side lead to fines and reputational damage on the compliance side.
The latest version of the Payment Card Industry (PCI) Data Security Standard will soon require businesses to implement and perform penetration testing, but only 41 percent of retail sector enterprises currently use penetration testing to identify security risks.
Security breaches can cost organizations millions of dollars, and those costs could be followed by lawsuits, insurance claims, and hefty fines. Just as important are the devastating effects on company reputation and customer trust that could extend far into the future. A 2008 study by the Ponemon Institute, which researches information security policy and data protection, found that after a breach of credit card data businesses lose 31% of their customers.
