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Published on: May 2007
Type of content: WHITE PAPER
Format: Adobe Acrobat (.pdf) (237 kb)
Length: 13 pages
Price: FREE

Overview:
Credit cards are widespread, and their use for online payments is increasing dramatically. There were 1.3 billion credit cards in circulation in the U.S. in 2004, with 76% of Americans having at least one credit card. Retail U.S. e-commerce sales in the 4th quarter of 2006 were $33.9 billion, a 25% increase over the same quarter in 2005.

There is bad news, however. Credit card fraud (26%) was the most common form of reported identity theft in 2005. Considering that more than $48 billion was lost by financial institutions and businesses in that year due to identity theft, and $5 billion lost by individuals, it can be said that credit card fraud is digging deep into everyone’s pockets! E-commerce fraud is also on the rise, reaching $3 billion in 2006 with an increment of 7% over 2005. This white paper examines the consequences of cardholder data theft and addresses the following key questions:

- What is the PCI directive?
- Why is it important for your business to comply?
- What are the consequences of not complying?
- What solutions are available to address the PCI directive?