Bank of Moscow achieves compliance with PCI DSS
Moscow. The Bank of Moscow and Jet Infosystems announce that the bank’s card processing system is now compliant with PCI DSS 2/0 data security standard.
The Bank of Moscow currently has over 100,000 corporate clients and 9 million retail clients. By the end of 2013 it had issued 6.4 million bank cards. The institution operates a network of 2,000 banking machines that processed about 54.2 million financial transactions in 2013 and over 5,700 payment terminals. Data security, specifically including compliance with PCI DSS, in this vast system is a top priority.
“Compliance with strict VISA and MasterCard data safety standards is a major component of information security at the Bank and a means to better protect our clients. A reliable bank enjoys public trust by using modern technology to safeguard personal information and guarantee trouble-free card payments and other transactions. In close cooperation with Visa and MasterCard we are planning to keep offering innovative products and services,” – comments Sergey Mednov, Board Member, Bank of Moscow.
The PCI DSS compliance project was contracted to Jet Infosystems that has a status of Qualified Security Assessor (QSA) and Approved Scanning Vendor (ASV).
After a review of the bank’s payment systems for compliance with PCI DSS and an assessment of their security level, Jet Infosystems came up with an action plan that included revision of policies, network segmentation and the deployment of additional data security tools. These measures brought the payment system into compliance with PCI DSS and improved information security at the bank in general.
“For cost efficiency reasons we took as much advantage as possible from existing means of data security at the Bank of Moscow, judiciously installing new components (such as SIEM solutions and system integrity control tools) to comply with PCI DSS without any loss in overall system performance yet with a tangible gain in data safety,” – comments Elena Kozlova, security compliance manager at Jet Infosystems.
The project was completed with a review by certified QSA auditors from Jet Infosystems who took no part in the project. Once their report was endorsed by Visa and MasterCard, a certificate of compliance with PCI DSS 2.0 was issued to the bank.
About the Bank of Moscow (www.bm.ru)
The Bank of Moscow ranks among top 5 full-service banks in the Russian Federation.
The Bank is an independent subsidiary of the VTB group that holds 95.53% of its shares.
The Bank of Moscow has about 9 million retail clients and over 100,000 corporate clients ranging from major companies to small businesses.