Jake Marcinko at TheNonProfit Times wrote an interesting article on credit card processing fraud and upcoming industry changes.  Here is a sample:

Credit card fraud has been a growing problem and is big business for malicious individuals and organized groups alike. According to July 2007’s Neilson Report, losses to card issuers (e.g. Visa, MasterCard, etc) due to card fraud in 2006 totaled $4.84 billion, up 12.8 percent from the previous year. As fraud losses have increased, credit card companies have realized a greater need for formalized security standards and practices.

In an effort to facilitate the broad adoption of consistent security measures on a global basis, American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa Inc., in June 2004 jointly created the Payment Card Industry Data Security Standard (PCI DSS). The PCI DSS is based on six fundamental objectives that are further divided into 12 major requirements and a slew of sub-requirements. These requirements cover broad topics such as network design, software development, security administration, and IT governance.

With a growing number of online companies storing credit card information online, data security has never been more important.  Always select a trusted vendor for credit card processing

Credit Card Processing credit card fraud, Credit Card Processing