Banks 'oblivious' to credit card compliance mandate

22.09.2006

Merchants processing between one million and six million transactions for Visa, MasterCard, American Express, Discover Financial Services or Japan Credit Bureau are defined under 'level 4' and are required to fill out a 75-question, self-assessment form annually.

Merchants must also review and generate compliance network components, servers and applications attached to point of sale facilities and undertake quarterly vulnerability scans.