For credit card handlers, cloud computing guidelines just got clearer
Grazed from ComputerWorld. Author: Thomas J. Trappler.
The fact that regulations evolve at a much slower pace than cloud computing technologies can lead to confusion regarding how to meet regulatory requirements in the cloud. If a client moves a regulated function to the cloud and later falls out of compliance due to a shortcoming on the cloud vendor’s part, the client remains accountable. So it’s essential to have as much clarity on these issues as possible. Recognizing this challenge with regards to the handling of credit card data, the Payment Card Industry (PCI) Security Standards Council has recently issued guidance on how to apply PCI Data Security Standards (PCI DSS) in the cloud.
PCI DSS applies to all organizations that hold, process or exchange credit card information. It was created to help ensure that consumers are not exposed to potential financial or identity fraud and theft. To accomplish this, PCI DSS provides a payment card data security framework that organizations deploy to prevent, detect and respond to security incidents. PCI DSS is not a law, and the PCI Security Standards Council doesn’t directly impose any consequences for non-compliance, but the negative repercussions of non-compliance can include lawsuits, insurance claims, canceled accounts, payment card issuer fines and government fines. To ensure none of this happens to you when processing credit cards in the cloud, it’s important to understand this new PCI DSS guidance…


Verdant Analysis, developer of cloud-based financial modeling and investment analysis software will launch its Verdasis Marketplace on April 23, 2013. The Verdasis technology liberates users from stand-alone terminals and license fees and enables anyone to investigate publicly traded securities quickly and easily. The flexible payment model allows users to buy only what they need or to subscribe for full-access at a low monthly fee. The basic service, available now, is free.