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The author of this blog, David T.S. Fraser, is a Canadian privacy lawyer who practices with the firm of McInnes Cooper. He is the author of the Physicians' Privacy Manual. He has a national and international practice advising corporations and individuals on matters related to Canadian privacy laws.

For full contact information and a brief bio, please see David's profile.

Please note that I am only able to provide legal advice to clients. I am not able to provide free legal advice. Any unsolicited information sent to David Fraser cannot be considered to be solicitor-client privileged.

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The views expressed herein are solely the author's and should not be attributed to his employer or clients. Any postings on legal issues are provided as a public service, and do not constitute solicitation or provision of legal advice. The author makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained herein or linked to. Nothing herein should be used as a substitute for the advice of competent counsel.

This web site is presented for informational purposes only. These materials do not constitute legal advice and do not create a solicitor-client relationship between you and David T.S. Fraser. If you are seeking specific advice related to Canadian privacy law or PIPEDA, contact the author, David T.S. Fraser.

Tuesday, July 19, 2005

Crunch Time For Payment Processors

New rules for payment processors have recently come into effect, to prevent another CardSystems-type incident. Bank Systems & Technology is running an article on efforts that processors are making to bring themselves into line with the new rules:

Bank Systems & Technology: Crunch Time For Payment Processors:
"...As of June 30, any entity that stores, processes, or transmits cardholder data had to comply with the Payment Card Industry Data Security standards, which require access-control measures, regular network monitoring and testing, and an information-security policy. Annual security audits and quarterly network scans also are required.
Just how many transaction-processing companies are compliant with the Payment Card Industry requirements isn't clear. Visa has published a list of about 150 compliant services providers, which it says represent most major payment processors. But Ordonez says there are hundreds of smaller processors for whom compliance costs could cause many to fold.
Companies that experience breaches and are found not to be in compliance face stiff penalties. Banks are responsible for ensuring compliance of the service providers they use and their merchant's service providers. Visa can fine banks up to $500,000 per incident for any merchant or service provider that's compromised and not compliant..."

Labels: cardsystems, information breaches