Data security should be a key component of practices when accepting and processing transactions. Customers expect their account information to be guarded safely. To comply with these regulations, any company accepting payments must follow the Payment Card Industry Standards (PCI). See a full list of all standards on the PCI Security Standards Council website to learn more.

There are several elements to PCI compliance. According to PCI, IT asset disposition (ITAD) requires when data storage media is no longer needed for legal or business reasons the organization must “render cardholder data irretrievable.” PCI goes on to say this can be done through a secure wipe program in accordance with industry-accepted standards for secure deletion. The other options are to physically destroy or degauss the media.

There are serious risks that can come from non-compliance with PCI standards. Several of those risks are:

• Paying fines and penalties along with legal costs and judgements
• Loss of trust with customers, suppliers and partners
• Hurting your company’s reputation and making it difficult to bring in new business.
• Loss of jobs or going out of business

CyberCrunch can help you follow PCI Security Standards, and provide safe and secure recycling and data destruction to keep your customer’s sensitive information safe.