Penalties for PCI Non-compliance

Non-compliance with Payment Card Industry Security Standards Council (PCI SSC) requirements can lead to severe penalties including:

• Fines: Fines can range from $5,000 to $100,000 per month depending on severity and duration of the non-compliance.
• Damage to Reputation:  A data breach generates negative publicity, damages a company’s reputation and erodes customer trust.
• Banned from Accepting Credit Card Payments: Credit card companies, banks and payment processors may temporarily suspend or terminate relationships with the non-compliant business.
• Lawsuits: Non-compliance may result in litigation requiring additional funds for attorney’s and monetary settlements.
• Increased Transaction Fees: Banks my increase transaction fees or add extra administrative charges.