Security Spotlight


What does this certification mean for the cybersecurity industry? PFIs help determine the occurrence of a cardholder data compromise and when and how it may have occurred. Tese PCI Forensic Investigators must work for a Qualified Security Assessor company that provides a dedicated forensic investigation practice. Tey perform investigations within the financial industry using proven investigative methodologies and tools. Tey also provide relationships with law enforcement to support stakeholders with any resulting criminal investigations. In short, certification underpins the credibility and reliability of


the cybersecurity industry, giving businesses the confidence to get in touch in the unfortunate event of a data breach.


And what does it mean for businesses that deal with consumer transactions? Global data breaches and the costs of attacks for companies of all sizes are on the rise. In 2021, large organisations of 10,000-25,000 employees hit by a


data breach paid an average cost of $5.52 million per attack. Smaller businesses with less than 500 employees have also seen


an increase from $2.35 million per attack in 2020 to $2.98 million in 2021, a 26.8% increase. A PCI Forensic Investigation can stop a breach as quickly as


possible to prevent further financial damage while getting the required investigation completed. Tis not only uncovers the information required to prevent future breaches, it also demonstrates the transparency essential to maintaining a business’ reputation.


As businesses become increasingly digitised, what can we expect in terms of security and payments when it comes to e-tailing and protecting customers? Between 2020 and 2021, ecommerce fraud rose 18% - from $17.5 billion to $20 billion. From pharming and account takeovers to “friendly” and “silent” fraud, fraudsters’ methods are becoming increasingly dynamic and diverse. Tokenization – which involves replacing sensitive data with non-


sensitive data in the form of tokens that act as a placeholder for the original data – will become an increasingly invaluable tool for the Payment Card Industry, as it works with all types of data, uses fewer resources, and has a lower chance of failure compared to other


encryption methods. Tokenization is also compatible with legacy systems, opening up new use cases. Digital identity verification will also become more widespread and


trusted. Two Factor-Authentication (2FA) introduces a second level of verification and is one of the most effective ways to protect against password breaches. Although adoption rates are low at the moment, 2FA has already become more accepted over the last two years, with 79% of people having used it in 2021 compared to 53% in 2019. Furthermore, an increasing number of platforms are switching


to 3D Secure 2.0, a new and upgraded version of the protocol that is not just more user-friendly but safer thanks to biometric authentication and a host of other security mechanisms.


Are you seeing any challenges in this area and if so, what are they? E-commerce security presents a particular challenge. Many businesses pivoted during the pandemic to replace face-to-face transactions with online trading, a practice that continues post- pandemic. Hackers usually target e-commerce store admins, users and


employees using a range of malicious techniques, such as phishing, spamming and malware. Te challenge is that hackers are getting better, which means


e-tailers in particular need an expert partner to stay updated with security issues and provide around-the-clock protection.


With the metaverse on the rise and as more businesses enter this world, what cybersecurity changes are you witnessing? Tere are three areas of consideration to cybersecurity in the metaverse: security of the hosting platform, security of the renters on the platform, and security of the consumers interacting inside the metaverse. Consumers are arguably most at risk because, unlike in the real


world, which has consumer-empowering data privacy acts, like GDPR and CCPA, there is currently no equivalent in the metaverse. Decentralisation technologies will likely be the go-to method


when it comes to protecting user identities and intellectual property rights, and AI-driven cybersecurity tools will play a critical role in safeguarding the metaverse by analysing user behaviour patterns across the network.


www.pcr-online.biz December/January 2023 | 43


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