Unit 5 Assignment 1: PCI DSS

ABS Financial Solutions is a provider of worldwide financial services to credit unions and their members. In order to gain the trust of the credit unions and their members that ABS wants to service, they need to follow certain U.S. Federal and State Compliance laws. These laws are put into place to protect the privacy, integrity, and confidentiality of individuals.

The Gramm-Leach-Bliley Act (GLBA) says that financial institutions must protect any and all consumer information that is collected by the institution. Any company that offers their customers financial products and/or services; loans, financial advice, investment advice, or insurance need to explain to their customers how private and confidential information is shared.

FISMA makes sure that certain security standards and guidelines are followed; categorizing information and information systems by mission impact, minimum security requirements, selecting appropriate security controls, assessing security controls, determining security control effectiveness, security authorization, and monitoring the security controls and security authorization.

There are six major objectives that are specified by PCI DSS; a secure network, protection of cardholder information, protection against hackers, bugs, and viruses, controlled access to system information and operations, constantly monitor and test all security measures and processes, define, maintain, and follow an information security policy at all times by all participating