PCI DSS acquired consultancy services for protection of card data

F.P. Report

KARACHI: The National Bank of Pakistan has recently acquired the consultancy services for PCI DSS (Payment Card Industry Data Security Standard) Assessment and its Compliance certification for Security of Digital Payments.

The PCI DSS is the global Information Security standard for the organizations that handle Debit/Credit Cards from major Card Schemes.

SBP initially recommended implementation of PCI DSS (Payment Card Industry Data Security Standard) through issuance of PSD Circular No.5 ‘Regulations for Payment Card Security’ in 2016. However, with increase in cyber-attacks in various forms against payment card systems, SBP recommended all financial institutions and associated service providers through the issuance of PSD Circular No. 9 ‘Security of Digital Payments’ in 2018, for adoption of PCI Standards for Payment Card related IT Infrastructure and Applications.

PCIDSS creates an additional level of protection for Card Issuers by ensuring maximum security for storage, processing and transmission of Card Holder Data. This includes systems, application and infrastructure for the process.

The Bank has engaged M/s Risk Associates for providing the services for PCIDSS Assessment and Certification project.

The National Bank of Pakistan is the country’s largest public sector commercial bank. It has the biggest branch network (over 1500) spread across the country and handles many large loan schemes for the Government of Pakistan to facilitate the people.

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