The world’s largest Technology, Media and Telecommunications (TMT) companies are shifting their cyber security focus away from point in time compliance to focus on cyber resilience. In 2013 a Deloitte survey of 121 global TMT companies found their top security focus was to develop a robust information security strategy to manage their increasingly complex and hyperconnected environments. Interestingly that same survey found 59 per cent had been breached over the past 12 months. This makes payment, network and data security a top technology priority for TMT businesses.
This priority is also being driven by consumer expectation, according to the Unisys Security Index 67% of consumers are concerned about data breaches by telecommunications providers and ISPs. The simple truth is this, loss of customer and employee data can be a financial and public relations nightmare that can damage your organisation’s reputation and bottom line. And the consequences of a data breach can be severe. Several businesses across the globe have been forced to close their doors because of bad press, and the loss of once loyal customers.
Large Telco’s and ISPs are more prone to online attacks than most private sector companies just by virtue of their size, reputation and the critical infrastructure they protect. They are an attractive target because successfully infiltrating their systems could give hackers access to private customer records and payment details en masse. Successful hackers could also use a carrier’s network to target other websites in so-called “denial of service” attacks.
With the rise and rise of cybercrime having robust prevention and early detection mechanisms that cover all of the major risks areas has become a top priority for Australian business, boards and government agencies. The Australian government has responded to the silent epidemic of cybercrime by introducing new privacy legislation (effective march 2014) while developing data breach notification legislation within parliament.
Countering the threat of cybercrime, while ensuring compliance with financial (PCI DSS) and regulatory standards places a significant financial burden on businesses.
IP Solutions offers a range of solutions to the telecommunication industry which reduce the cost, risk and lead times associated with security and compliance. Learn how other operators have addressed their PCI Compliance, Payments and Network Security challenges:
- PCI DSS Professional Services – IP Solutions has extensive experience assisting companies achieve and maintain compliance utilising a range of services and solutions which have the flexibility to meet the unique needs of the TMT industry.
- Credit Card Data Discovery – IP Solutions scanning tools rapidly define the scope of a PCI assessment or certification project by concentrating efforts and focussing resources in line with the PCI Councils prioritised approach. It is also the ideal tool to ensure ongoing compliance is maintained.
- Tokenisation Payments & Secure Card Storage – cardholder information is securely exchanged using tokenization technology and stored securely off site in Level 1 PCI DSS compliant encrypted datacentres, thereby reducing the risks and financial exposure associated with potential breaches within the merchant’s environment.
- IVR Pay by Phone – PCI compliant fully hosted IVR services for clients who are looking to streamline their payment operations, reduce their cost base and free up resources.
- Call Centre Compliance – reduce complexity of achieving and maintain compliance by taking the call centre out of scope for PCI. IP Solutions offers three solutions which address payment processing and PCI DSS Compliance within call centre environments.
- MerchantSecure Network Management, Security & Productivity Solution – a fully managed cloud based network security and compliance service, with onsite security appliances.
- Mobile Device Security – IP Solutions has custom built solutions which interoperate with iPhones, smartphones and tablets which enable secure payment processing via credit cards, wallets, tokens across a diverse range of devices.
- Online Security & Compliance – IP Solutions offers an extensive range of online security payment solutions ranging from virtual terminals to online payment and advanced customer billing portals.
IP Solutions is unique in its ability to offer multiple security solutions, payment types, across multiple payment channels and devices to multiple banks in Australia and overseas.
Read success stories:
- Virgin Mobile Australia