Global Executives Reveal Their Top IT Problems in IT Governance

Survey

Rolling Meadows, IL, USA

(13 February 2008)—Insufficient IT staff availability, service delivery issues, and difficulty proving the value of information technology (IT) continue to plague executives at organizations around the world, according to a new report by the nonprofit, independent IT Governance Institute (ITGI).

ITGI commissioned a global survey of 749 CEO-/CIO-level executives in 23 countries to determine executives’ IT governance priorities and the IT-related problems their organizations have faced. According to the IT Governance Global Status Report 2008, which is available as a complimentary download at www.itgi.org, 58 percent of respondents noted an insufficient number of staff, compared to 35 percent in 2005. Also, 48 percent said that IT service delivery problems remain the second most common problem, and 38 percent point to problems relating to staff with inadequate skills. Thirty percent of respondents also reported problems anticipating the return on investment (ROI) for IT expenditures. read more...

The Payment Card Industry Data Security Standard (PCI)

Michael E. Smith

Senior Vice President

Enterprise Risk and Compliance

Visa USA

Visa Inc. announced today that as of the end of 2007, more than three-fourths of the largest U.S. merchants¹ and nearly two-thirds of medium-sized merchants² have now validated their compliance with the Payment Card Industry Data Security Standard (PCI DSS). Merchants in these two categories account for approximately two-thirds of Visa's U.S. transaction volume.

The strong progress is attributed to the efforts of multiple stakeholders, including acquirers, merchants and Visa. Visa's multi-tiered strategy of financial incentives, education and non-compliance fines has had a direct impact on increasing compliance among the largest U.S. merchants from about 12 percent in March 2006 to 77 percent by December 31, 2007. Among medium-sized merchants, compliance grew from 15 percent in December 2006 to 62 percent as of December 31, 2007.

"Visa is working to mitigate the risk of data compromises by securing cardholder information," said Michael E. Smith, head of payment system risk, Visa Inc "In 2007, more U.S. merchants made good on their commitment to protect cardholder information than any other year. Visa is pleased with the progress of merchant PCI DSS compliance though there is still more to accomplish with among payment system participants," he said.

Merchants can visit Visa's online education center at www.visa.com/cisp to learn more about securing customers' payment card data. The site offers a series of webinars and security alerts that will help a merchant better understand the PCI DSS and how to achieve compliance.

The PCI DSS is an international set of security requirements for any entity that stores, processes or transmits cardholder data. The standards are set by an international body known as the Payment Card Industry Security Standard Council that seeks to provide a forum in which all stakeholders can provide input into the ongoing development, enhancement and dissemination of the Data Security Standard. For more information about the Council, go to www.pcisecuritystandards.org. read more...