PCI Standard Criticized At House Hearing
At a congressional hearing last week, federal lawmakers and retail industry officials contended that the PCI security rules have done little to stop payment card data thefts and fraud.
By Jaikumar Vijayan
"I do want to dispel the myth once and for all that PCI compliance is enough to keep a company secure," said Rep. Yvette Clark (D-N.Y.), chairwoman of the House subcommittee that held the hearing.
National Retail Federation CIO David Hogan claimed that the rules -- formally known as the Payment Card Industry Data Security Standard -- are little more than a tool for shifting financial risks from banks and credit card companies to retailers.
But Bob Russo, general manager of the council that oversees PCI, insisted that, when companies implement it correctly, the standard is useful in protecting against data breaches.
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