Difficulty: Medium

Average Score: 74%

A retail company processing credit card transactions must meet security requirements. Which standard applies?

Rationale

PCI-DSS applies to a retail company processing credit card transactions.

The Payment Card Industry Data Security Standard (PCI-DSS) is specifically designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment, making it the relevant standard for retail companies involved in credit card transactions.

A (PCI-DSS) CORRECT

This standard is crucial for any organization that handles credit card transactions, as it establishes comprehensive requirements for security management, policies, procedures, network architecture, and software design. Compliance with PCI-DSS helps protect cardholder data and minimizes the risk of data breaches.

B (ISO/IEC 27001) YOUR ANSWER

While ISO/IEC 27001 is an important standard that provides a framework for information security management systems (ISMS), it is not specifically tailored for credit card transaction security. Instead, it focuses on broader information security practices and may not address the unique requirements of handling credit card data.

C (California Consumer Privacy Act (CCPA)) YOUR ANSWER

The CCPA is a state law aimed at enhancing privacy rights and consumer protection for residents of California. Although it governs how businesses handle personal data, it does not specifically apply to the security standards needed for processing credit card transactions, making it irrelevant in this context.

D (Service Organization Control 2 (SOC 2)) YOUR ANSWER

SOC 2 is a framework for managing customer data based on five "trust service criteria" (security, availability, processing integrity, confidentiality, and privacy). However, it is not specifically oriented towards credit card transaction security and does not replace the requirements set forth by PCI-DSS for companies in the retail sector.

Conclusion

In the context of credit card transactions, PCI-DSS is the essential standard that retail companies must adhere to in order to ensure the security of cardholder data. Other standards, while important for various aspects of information security and privacy, do not provide the same specific guidelines for credit card processing as PCI-DSS does.

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