Sberbank has joined the Payment Card Industry Security Standards Council to help improve card data security mechanisms across the globe.
As a member of the Council, Sberbank will contribute to the development and adoption of the industry’s security standards.
PCI SSC is a global cross-industry organization with a mission to enhance global payment account data security by providing flexible, industry-driven, and effective data security standards. Its pillar is the PCI Data Security Standard which provides a quality basis for developing a reliable payment card data process to protect card data, prevent, detect, and mitigate cyber-attacks and violations.
As a PCI SSC member, Sberbank will interact with the growing community of over 800 member companies to enhance payment security throughout the world. The bank will also be entitled to recommend new initiatives for the Council to look into and share cross-industry expertise and best practices at the annual PCI SSC meetings.
Stanislav Kuznetsov, Deputy Chairman of the Executive Board, Sberbank:
“Sberbank is among the top three largest merchant acquirers in the world. Therefore, the scale of operations, our experience, and constantly growing cybersecurity competencies, as well as our attention to the security of all data-driven processes, will be in demand with PCI SSC. According to a World Economic Forum report, cyberattacks and data theft are now the third major business risk, with only recessions and bankruptcies ahead of them. Cybercriminals are building up their arsenal nonstop. The damage to the world economy is growing every year, and we can only counter this by taking coordinated actions together. By joining the Council, we hope to contribute to the development of the security standards for the payment card industry.”
Mauro Lance, Operating Officer, Payment Card Industry Security Standards Council:
“In an era of increasingly sophisticated attacks, payment card industry security standards and our resources help organizations protect payment data and prevent, detect, and mitigate attacks that may lead to costly data breaches. By joining PCI SSC as a participating organization, Sberbank is demonstrating that it is playing an active role in improving the security of payments around the world, helping to raise awareness and adapt the security standards of the payment card industry.”