On 21st May 2015 in Hanoi, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is awarded the second PCI DSS certificate (Payment Card Industry Data Security Standard) by Control Case (India) and becomes the first Bank in Vietnam receiving the second PCI DSS from Control Case, thanks to its relentless effort in innovation, improving security standards and strengthening card operations. This is one of the important certificates used by many big Card Organizations to apply to their members to ensure data security standard for card-holders.
PCI Data Security Standards are set by Security Standards Council (SSC) for payment cards. SCC members are big international Card Organizations such as Visa, MasterCard, American Express (AMEX), Discover Financial Services, JCB International... To achieve PCI Data Security Standards, participants are required to satisfy 12 strict requirements for the system, which include information security policy, data handling process and computer network structure to ensure card data security when this data is processed and stored in the banks or units providing online-payment services. As a result, units can minimize security vulnerability and risk of data loss as well as enhance the data protection on the card and payment transactions. Especially, units having obtained PCI DSS are required to have higher level of standard satisfaction against the previous year.
Recognizing the importance of PCI DSS in providing card services of international security standards, since 2011, Techcombank has implemented system standardization project to quickly achieve PCI Data Security Standard and other security standards established by Visa/Master. Techcombank has officially moved from magnetic card to Chip–EMV card since December 2011 and applied 3D secure since 2013. In mid-year 2012, the Bank signed contract with Control Case (India) — one of independent organization selected by SSC and international card organizations to consult and establish PCI DSS for their systems. After more than one year of independent control, monitoring, checking and evaluation, on 12th November 2013, Control Case completed report and officially concluded that Techcombank’s card system satisfied PCI DSS. In 2014, Techcombank kept investing in and raising the security standards, improving the card operation control and work skills of employees; therefore, it has satisfied stricter requirements to become the first Bank in Vietnam awarded the second PCI DSS certificate.
“Techcombank is honored to receive this prestigious certificate for the second time. This award motivates us to develop the bank system with advanced technology platform as well as ensure the best data security under international standards. Techcombank strictly enforces PCI DSS to make customers feel more confident in using payment card and minimize potential risks”, Mr. Dang Cong Hoan — Head of Card and Personal Account Service, said in the event.
