The PCI Security Standards Council, the private regulatory group run by the major credit card companies, has named its first board of advisers.
The 14-member board includes Wal-Mart, Tesco, and several banks including Bank of America and JP Morgan Chase. Bob Russo, general manager of the PCI SSC, said the elected board also will include seven members from the executive committee of the founders of the organisation, Visa, MasterCard and American Express.
"This is our first advisory board, and the types of things we will be looking for are having them advise us on security issues in their markets and relaying modifications and refinements to the PCI standard," Russo said.
The payment-card companies that founded PCI SSC have sought to require any business processing credit and debit cards to support the PCI security standard, but they have not been entirely successful.
The elected board includes members from APACS (the UK payments association), Bank of America, British Airways, Chase Paymentech; First Data, JP Morgan Chase, Microsoft, Moneris Solutions, PayPal, Royal Bank of Scotland, Tesco Stores, TSYS Acquiring Solutions, VeriFone and Wal-Mart.
The as yet-unsolved TKMaxx, viewed as the biggest card theft ever, with hackers stealing sensitive information related to more than 47 million payment cards, has given a sense of fresh urgency to ensuring networks processing payment cards are secure.
Russo says TJX, the parent of te UK's TKMaxx, is not a member of the PCI SSC, "but we hope in the future they'll join."
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