What It Is

PCI DSS (Payment Card Industry Data Security Standard) is a contractual security framework managed by the PCI Security Standards Council. It mandates protection of cardholder data (CHD) and sensitive authentication data (SAD) for merchants and service providers handling payment cards. Its control-based approach enforces 12 requirements under 6 objectives, focusing on secure networks, data protection, vulnerability management, access controls, monitoring, and policies.

Key Components

• 12 core requirements with 300+ sub-requirements and testing procedures.
• 6 control objectives spanning technical and operational safeguards.
• Compliance via SAQs for smaller entities or ROCs by QSAs for larger ones.
• v4.0 introduces customized approaches, MFA emphasis, and phased future-dated controls.

Why Organizations Use It

Drives contractual compliance to avoid fines, processing bans, and breach costs ($37/record avg.). Enhances fraud reduction, customer trust, and regulatory alignment (e.g., GDPR). Provides risk management via segmentation and ongoing validation, offering competitive edge in payments.

Implementation Overview

Involves scoping CDE, gap analysis, remediation (e.g., encryption, patching), and validation (quarterly ASV scans, annual pentests). Applies globally to card-handling entities; costs $5K-$200K+. Phased Assess-Repair-Report cycle ensures continuous adherence. (178 words)

What It Is

ISO 37001 is the international standard for Anti-Bribery Management Systems (ABMS), a certifiable framework for preventing, detecting, and responding to bribery. It applies risk-based approaches across public, private, and not-for-profit organizations, covering direct/indirect bribery by personnel and business associates.

Key Components

• Clauses 4-10 follow **PDCA cyclecontext, leadership, planning, support, operation, evaluation, improvement.
• Core controls: anti-bribery policy, risk assessments, due diligence, financial/non-financial controls, training, reporting.
• Built on ISO Harmonized Structure for integration with standards like ISO 9001.
• Optional third-party certification with audits.

Why Organizations Use It

• Mitigates legal risks (e.g., FCPA, UK Bribery Act) via evidentiary "reasonable steps".
• Builds reputational trust, stakeholder confidence, ESG alignment.
• Delivers efficiencies (up to 15% compliance cost reduction), cultural shifts.
• Enables market access in high-risk sectors.

Implementation Overview

• Phased: gap analysis, risk assessment, controls, training, audits.
• Scalable for all sizes/industries; 6-12 months typical.
• Certification involves Stage 1/2 audits, surveillance.