Ground Labs Releases Solution to Reduce Credit Card Data Theft
Sydney 9th March 2009 – Presently several billion dollars in online revenue is reported to be lost annually to credit card fraud, however a Sydney technology firm plans to significantly reduce this by focusing on the source of the problem.
Today Ground Labs announced the release of Card Recon, a software application that will accurately search for sensitive payment card data stored on computer systems that are used to handle credit card payments.
Over the past 2 years more than 100 million customer payment records have been exposed due to data breaches resulting from incorrect handling and storage of customer information by companies of all sizes. The direct cost from these events has been estimated to exceed 1 billion dollars as a result of ongoing litigation and card re-issuance costs.
Card Recon is designed to help organizations reduce their exposure to this risk and achieve compliance with the Payment Card Industry Data Security Standard (PCI DSS) by identifying insecure storage of customer payment card data within documents, email records and application data files in a simple and accurate manner.
“We are proud to release a product that will improve the way organizations verify the security of stored card holder information” said Peter Duthie, Chief Architect and founder of Ground Labs. “Card Recon is the only commercial auditing solution that was designed exclusively for PCI DSS to verify and report on non-compliant cardholder data storage practices”.
Kelvin Heath, Director of Security for Vectra Corporation, a leading PCI Qualified Security Assessor (QSA) said “In every case I have used Card Recon, even when scanning well managed systems it has identified stored credit card data that had been previously undetected. This is proof of the value of Card Recon not only for QSAs charged with the responsibility to ensure credit card data is protected, but also for organizations validating their own compliance and preparing for a PCI DSS Assessment.”
Card Recon is available for Windows and Unix platforms and can be trialled or purchased at www.groundlabs.com or through the Ground Labs partner network.
About Ground Labs
Ground Labs is the leading developer of sensitive data identification technologies for use by the Payment Card Industry. Headquartered in Sydney, Australia, Ground Labs is a group of information and payment security professionals with extensive experience in the research and development of high performance antivirus, intrusion detection and payment security technologies.