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PCI Risk Assessment
In the digital world with increased reach of online transactions there are more possibilities for hackers, who are working towards penetrating the security measures taken by a company to secure its assets and that data of its customers. This is where the role PCI Risk Assessment comes in.
PCI Risk assessment is a continuous process which would be implemented to enable ongoing discovery of emerging threats and vulnerabilities that could negatively impact the cardholder data environment (CDE), allowing an organization to mitigate such threats and vulnerabilities in a proactive and timely manner.
Why organizations should conduct PCI Risk Assessment?
- Risk assessments helps organization to identify and understand the potential risks to their CDE (Cardholder Data Environment). By understanding these risks, an organization can prioritize risk mitigation efforts to address the most critical risks first.
- Can identify the presence of cardholder data that is not fundamental to business operations and that can be removed from an organization’s environment, reducing both the risk to the environment and potentially the scope of their CDE.
- Assessment can identify areas containing data that need protection versus areas that are more open and do not need access to sensitive data.
- Information obtained through a risk assessment can be used to determine how to segment environments to isolate sensitive networks (CDE) from non-sensitive networks and, thus, save unnecessary investment in security controls where they are not needed.
- Performing risk assessments at regular intervals provides an organization with the insight into changing environments and assists it to identify where mitigation controls need to be adjusted or added before new threats can be realized.
Methodology of PCI Risk Assessment at ValueMentor
In this we will conduct a preliminary assessment to identify underlying risks associated with PCI guidelines.
At this point, we will conduct a detailed study of each risk and its associated risks
After assessing risks in detail, it is important to define strategies to reduce risks as much as possible, though total elimination is impractical.