Emerald Business Systems Blog

PCI Compliance fines for small business breaches

Posted in PCI by ebs4pos on July 27, 2009

# Since 2005, more than 80% of the credit card breaches have occurred at small businesses.

# Since October of 2006, Visa has levied $3.3 million in fines for non compliance.

# MasterCard did not disclose their fines but I bet Robin could find them!

# Lodi Beer, a microbrewery and restaurant in California had unknowingly stored 11,728 credit card records in their point of sale system. Track data from the credit card’s magnetic strip cannot be stored. When that data was breached, Visa and MasterCard fined Abanco, the restaurant’s merchant account provider, $27,000. Abanco then in turn passed that fine onto the restaurant. In addition to the fines, this merchant has spent over $50,000 in remediation costs, legal fees, upgrades, etc. That is a huge amount of money for a small business.

via PCI Compliance fines for small business breaches – Braintree Payment Solutions.


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