As your trusted Massachusetts State Automobile Dealers Association technology resource, we’re thrilled to offer you educational opportunities so you can increase your IT knowledge and understanding.
Please see below for more information.
Looking to stay current with your Auto Retailer IT understanding?
Looking for previous webinars?
Click on any of these options:
May 2022: Are you sure your cybersecurity insurance policy covers you?
April 2022: We Love to Hate Downtime When Your Technology Fails to Work Properly
March 2022: Your Passwords are Compromised! (And You Probably Don't Know It!)
February 2022: The Seven Things Your IT Partner Does Not Want You To Know
January 2022: Bad IT Behaviors & Policies: 5 Bad Tech Behaviors That Cost You MONEY
December 2021: Microsoft Licensing Compliance & Office365 Subscription Plans
How to Manage a Proper PCI Compliance Program Within Your Dealership
IT Policies and Procedures Your Dealership Should Have in Place
Top 5 Ways You Can Protect Your Dealership from a Ransomware Attack
Why You Should Be Using Multi-Factor Authentication (MFA)
What is Cryptocurrency & How To Be Prepared To Accept It
Need auto retail specific managed IT Services?
Have a question?
Browse our FAQs for answers:
A: PCI is a set of security standards put in place 2006 to protect consumers’ credit card information. It mandates that all companies that accept, process, store or transmit credit card, debit card, and pre-paid cards information must maintain a secure environment to protect this data.
The PCI standards are managed by the Payment Card Industry Security Standard Council (PCI SSC), enforced by large payment card brands (American Express, Discover, JCB, MasterCard, and Visa International), and audited by qualified PCI auditors.
In addition, The Federal Trade Commission (FTC) is responsible for regulating consumer privacy and security. This means they could play an additional role in enforcing PCI violation penalties. Learn more here.
In general, PCI compliance is required by credit card companies to ensure that online transactions are secure and protected against identity theft. The current standards can be found here.
A: Every merchant that accepts client credit card payment and processes, stores, and transmits this data must be compliant. Even if you take credit card information over the phone, do not store the data, or work with third-party processors, you must still comply with PCI.
A: Compliance failure increases your risk of a security breach, which can lead to hefty penalties, fines, and loss of your merchant account. If you lose your merchant account, you will no longer be able to process credit card transactions and impact your profitability.
A: There are many costs, on top of PCI penalties, when your company experiences a data breach. According to SecurityMETRICS, these costs include:
- Merchant processor compromise fines: $5,000 – $50,000
- Forensic investigation: $12,000 – $100,000+
- Onsite QSA assessments following the breach: $20,000 – $100,000
- Free credit monitoring for affected individuals: $10-$30/card
- Card re-issuance penalties: $3 – $10 per card
- Breach notification costs: $2,000 – $5,000+
- Technology repairs: $2,000 - $10,000+
- Increased in monthly card processing fees
- Legal fees
- Civil judgments