21 Dec Regulations on Cloud Storage of Credit Card Data Ignored by Most Companies
A new report published by B2B research firm Clutch showed that around 60% of small businesses that keep financial information in the cloud such as credit card data still fail to comply with industry regulations.
Business which violate the Payment Card Industry Data Security Standard (PCI DSS) and the Health Insurance Portability and Accountability Act (HIPAA) may be subject to fines amounting to millions of dollars. However, the survey participated by 300 IT decision makers established that around 54% do not follow cloud storage industry rules when handling and keeping medical data.
This suggests that US small businesses may be putting sensitive consumer data at risk, but despite this, around 90% of them still expressed confidence in their security measures.
Source: Information Management
