Purpose
This project provides an opportunity for you to apply principles related to auditing to ensure information systems are in compliance with pertinent laws and regulations, as well as industry requirements.
Required Source Information and Tools
To complete the project, you will need the following:
Course textbook
Access to the Internet to perform research for the project
PCI Security Standards Council: https://www.pcisecuritystandards.org
Important PCI Compliance Information for Merchants: https://www.bigcommerce.com/blog/pci-compliance/#weve-successfully-achieved-pci-compliance-whats-next
COSO Internal Control—Integrated Framework Executive Summary: https://www.coso.org/_files/ugd/3059fc_1df7d5dd38074006bce8fdf621a942cf.pdf
COSO Internal Control—Integrated Framework PowerPoint
COSO Internal Control—Integrated Framework (2013) whitepaper: https://assets.kpmg/content/dam/kpmg/pdf/2016/05/2750-New-COSO-2013-Framework-WHITEPAPER-V4.pdf
Note: The 2013 version of the framework is also available for purchase, or you may be able to retrieve it through our library.
Learning Objectives and Outcomes
You will be able to:
Explain the purpose of PCI DSS
Analyze business factors that influence PCI DSS compliance
Describe potential consequences of failing to demonstrate PCI DSS compliance
Apply standards and frameworks to the development of information security internal control systems
Analyze the use of information security controls within IT infrastructure domains
Introduction
Public and private sector companies are expected to comply with many laws and regulations as well as industry requirements to promote information security. Assessments and audits of the information technology (IT) environment help to ensure a company is in compliance. A successful information security professional must be able to assess a business’s needs, evaluate various standards and frameworks, and develop a customized, integrated internal control system that addresses the company’s compliance responsibilities. Furthermore, the professional must be able to communicate with various people—both inside and outside the organization—to facilitate awareness of how control activities mitigate weaknesses or potential losses that could compromise the company’s information security.
Scenario
S&H Aquariums is a new online retailer that is about to begin selling aquariums and other items for aquarium hobbyists. In recent months, many companies have been featured in the news because of information security breaches that have exposed customers’ credit card data. S&H Aquariums’ management team is worried about the negative impact a potential breach could have on the company’s reputation and business standing.
S&H Aquariums has hired you, an information systems security expert, to ensure that the company is prepared to accept credit card payments for purchases made through the company’s Web site. To kick off the planning phase, the board of directors would like you to write a report explaining what the company will need to do to minimize risks to sensitive data and comply with applicable laws and regulations, as well as industry standards. In preparation, you sit down with the company’s president and discuss the following details:
Per the company’s strategic plan, the company expects to have between 20,000 and 1,000,000 credit card transactions during the first year of operations. However, the board would like to know what differences to anticipate as the volume of credit card transactions grows in the coming years.
The company will initially accept payments made with MasterCard and Visa only, but it may decide to accept other credit cards in the future.
The board of directors is discussing the possibility of opening a bricks-and-mortar store in the future, and the board would like to consider any compliance-related issues prior to making that decision.
The board consists of professionals from a variety of fields. It is unlikely that any of the board members are familiar with complex information security concepts or with PCI DSS, the set of requirements that prescribes operational and technical controls to protect cardholder data.
Tasks
Review the information related to PCI DSS compliance provided in the course textbook and in the Internet resources listed for this project. Consider how this information relates to the description of S&H Aquariums provided in the scenario above.
Write a report for S&H Aquariums’ board of directors. Include the following:
Introduction
PCI DSS Overview
Include a discussion of the six principles, twelve primary requirements, and the sub-requirements of PCI DSS.
Rationale
Explain why the company needs to address the PCI DSS requirements and describe potential consequences if the company is not able to demonstrate compliance.
Immediate Considerations for PCI DSS Compliance
Analyze factors (including those introduced in the scenario above) that will influence S&H Aquariums’ immediate plans for PCI DSS compliance. Discuss payment brands (credit card companies), transaction volumes, merchant levels (i.e., 1 through 4), and types of reporting required in relation to S&H Aquariums’ business projections.
Future Considerations for PCI DSS Compliance
Analyze contingencies that may influence PCI DSS compliance in the future. Address potential questions from the board, including but not limited to:
What would be expected of the company if credit card volume increases past 1,000,000 transactions in future years?
What should S&H Aquariums do to demonstrate PCI DSS compliance if it begins to accept American Express or Discover?
How would opening a bricks-and-mortar store affect the company’s responsibilities for PCI DSS compliance?
Conclusion
As a reminder, you may use the textbook for this course and the Internet to conduct research. You are encouraged to respond creatively, but you must cite credible sources to support your work.
Submission Requirements
Format: Microsoft Word
Font: Arial, 12-point, double-space
Citation Style: APA
Length: 2–3 pages
Self-Assessment Checklist
I have created a report that uses a professional tone and includes correct terminology.
In my report, I have described PCI DSS, provided a sound rationale for addressing PCI DSS compliance, and analyzed immediate and future considerations for PCI DSS compliance.
I have conducted adequate independent research for this part of the project.
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