Credit Card Data Breach

Could Your Business Survive One?

From a data security standpoint, a comprehensive security suite such as PNC Merchant Service’s Clover[1] Security solution can help to decrease the risk of a card data breach.

Many businesses, operating without the benefits of such a system, may lag behind sophisticated hackers and criminals in the needed steps to help protect their data. In today’s world, theft of customer card data may cause irreparable damage to the reputation of a business. It’s a loss that a small businesses may not survive.

One of the best ways to avoid a breach is simply not to have credit card data stored within a merchant’s network at all. Systems such as Clover Security use sophisticated encryption and tokenization to help thwart hackers from capturing such information at any point in a transaction.

Contrary to popular opinion, it is not just at the point-of-sale where a major breach of credit card data occurs. Hackers are constantly looking for vulnerabilities such as a back-door entry into where card data is stored on a merchant’s network.

Malware can be secretly installed to grab the card number from every transaction processed. This data may be used to create counterfeit cards, or to perpetrate “card not present” online fraud.

Once such fraud is discovered, it is investigated. The merchant may be responsible for bringing in a qualified security Assessment Company to perform a forensic investigation.

The investigating company will try to determine what happened. They then provide the results to the merchant’s bank, who presents these results to the card associations. For example, if 500 fraudulent cards are created through a data breach, they could be used to perpetrate large dollar counterfeit card fraud. Such a loss, under certain circumstances, may be the responsibility of the merchant, not the card issuer.

Fines may be assessed by the card associations to the merchant’s acquiring bank and the bank will expect the merchant to pay the amount of the fine. The fines typically reflect the total amount of counterfeit card fraud plus the associated costs of remediation that occurred as a result of the data breach. For example, related costs may include the expense of mailing letters and new cards to cardholders whose data was compromised.

In short, a card data breach can be a terribly emotional and costly event for a business owner. One of the best ways to decrease the likelihood of a data breach is by pairing the most modern business technology like Clover with a protection suite, such as Clover Security. Together, they offer multiple layers of defense.

Modern technology allows you to take the most secure payment types available, such as EMV cards and digital wallets.  Tokenization and encryption protect the data both in transit and at rest, offering a strong defense against even the most dedicated hacker or criminal. Hardware and software scans help detect possible vulnerabilities earlier, and certifying PCI compliance not only keeps you compliant but also helps to remind you of important practices. If you are already signed up for Clover Security, log on now to complete your annual self-assessment questionnaire.

It is more important than ever that you have a plan to help keep cardholder data safe and secure. Clover solution can help you get the job done. Learn More about Clover  »

Please contact us at 1-888-235-6959 if you have any questions or need any assistance.

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Important Legal Disclosures & Information

  1. All Apps are provided by third parties including First Data Corporation and fees may apply. PNC Merchant Services Company is not responsible for third party apps. Clover Online Store is a third party app from First Data. Clover Online Store is not provided by PNC Merchant Services or PNC Bank, N.A. In addition, for Clover Mini, Clover Register plan is required in order to access many of the apps. There are additional monthly fees for this software.

Clover Security is a registered trademark of the First Data Corporation in the United States and other countries.

The Clover® name and logo are owned by Clover Network, Inc., a wholly owned subsidiary of First Data Corporation, and are registered or used in the U.S. and many foreign countries.

Merchant Services provided by PNC Merchant Services Company and are subject to credit approval. PNC Merchant Services is a registered trademark of The PNC Financial Services Group, Inc.