Latin America. GM Security Technologies (GM Sec Tec) faces and points out emphatically, that any organization that participates in the chain of processing, transmission and storage of credit card information, has to comply with the standards established by the PCI council, highlights Gustavo Adolfo Chacón, Business Development Manager - International Operations.
"In this order of ideas, we are present as a sponsor at the Regional Fraud Prevention Forum that MasterCard International offers from May 9 to 11 in the city of Orlando, Florida; as we consider it a valuable opportunity to know and share the latest trends, tools and techniques for everything that involves the operation and prevention of fraud in the payment industry".
In figures published in a 2017 Identity Theft Study by Javelin Strategy & Research, last year in the United States alone, $16 billion was stolen from 15 million consumers. The exponential increase in cases of identity theft in points of sale, as well as the billions losses they have generated, served as a starting point for the development of a focused guide for organizations that process, store or transmit payment card data to secure information to prevent fraud, the Payment Card Industry Data Security Standard (PCI DSS, for its acronym in English). With the main commitment to reducing the risk of credit card fraud, by protecting the infrastructures that process, transmit or store data.
One of the most marked trends in the fight to reduce corruption is the reduction of cash, that is, to promote the use of other means of payment in order to more effectively identify both the origin and destination of money, while also reducing illicit activities and informality.
And although, the lower use of cash to carry out transactions results in benefits like these, coupled with raising tax collection, reducing operations of illicit origin and lowering informality and corruption; it also opens up an important gap, that of fraud.
"The use of electronic means of payment is increasing more and more, above cash; and this, together with the development of the digital environment, has led to the growth of an industry that is advancing by leaps and bounds and before which we must be two steps ahead, cybercrime".
In addition, it gave rise to Fintech, the use of information and communication technologies, by companies, to develop financial services more optimally.
In the 2017 edition of Mastercard's Digital Payments Study, the credit and debit card brand, which in turn is one of the founders and developers of the Payment Card Industry Data Security Standard (PCI DSS), points out that digital wallets continued to gain relevance in smartphones and laptops globally. exceeding 75% of tracked conversations.
The application of technologies that make shopping faster, easier and safer, continues to gain acceptance; virtual reality that allows you to make a purchase with just one gesture, is one of the goals of many consumers worldwide.
But we must be clear that the greater the use of technology, and although, financial institutions can now identify the people, origin, destination and transit of money; it leads to a greater gap and opens up another level of risks. That is why at GM Security we insist emphatically that any organization that participates in the chain of processing, transmission and storage of credit card information has to comply with the standards established by the PCI council, concludes Gustavo Adolfo Chacón, Business Development Manager - International Operations.
