Video: Payment Card Industry Data Security Standard (PCI DSS)

In this lesson, Nick Palazzolo, CPA, dives into the intricate world of the Payment Card Industry Data Security Standard, or PCI DSS. This set of regulations is crucial for companies dealing with credit card information, ensuring they maintain a secure environment. Nick breaks down the six primary goals and the accompanying twelve detailed requirements that each company must adhere to, ranging from maintaining secure networks and systems to implementing robust access controls and regularly monitoring security protocols. He emphasizes the importance of understanding the purpose behind these standards and highlights some of the consequences companies may face if they fail to comply, including fines and other penalties. Additionally, Nick discusses the necessity of regular risk assessments and the pivotal role of training employees on secure data handling practices. This lesson provides a comprehensive overview of PCI DSS, ensuring a clear grasp of how to maintain compliance and protect sensitive cardholder information.