Welcome to ElectronicPaymentSecurity

This blog is dedicated to providing the most up-to-date information about online payment security. Actually, it more broadly covers electronic payment security, because security requirements and regulations generally apply to all electronic payments – both online and offline. The convenience of electronic payments clearly has a price, as evidenced by the proliferation of credit card fraud, identity theft, and other crimes. Consider these statistics: 

• 27.3 million Americans have been victims of identity theft in the past five years, with more than $56 billion in damages  (see article in Transaction World)
• According to a report on consumer fraud and identity theft published by the Federal Trade Commission, internet-related complaints accounted for 46% of all fraud complaints in 2005
• The Privacy Rights Clearinghouse reports that data breaches since 2005 have involved more than 93 million consumer records

There is good news, however. Recently established industry requirements and government regulations, if properly followed, can alleviate and even eliminate the risks of fraud. What are these standards and regulations, and how can your organization comply with them? This site attempts to address many of the most common questions in familiar FAQ fashion. If you have a relevant question that is not addressed here, we will soon allow you to post a question about electronic payment security. We will do our best to have an industry expert respond to relevant questions and/or post a response on the site.   

This entry was posted on September 22, 2006 at 3:00 pm and is filed under Electronic Payment Security - General. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.