Cardholder Information Security and Data Retention Policy
Policy brief and purpose
DebtManagers are committed to maintaining the highest standards of security and privacy for cardholder information. This policy outlines our procedures and practices to ensure the security of cardholder information and our commitment to not retaining any cardholder details beyond what is necessary for legitimate business purposes.
Scope
This policy applies to all employees, contractors, and third-party vendors who handle cardholder information on behalf of DebtManagers. It covers all cardholder data, including but not limited to credit card numbers, expiration dates, and cardholder names.
Security Measures
a. Access Control: Access to cardholder information is restricted to authorized personnel only. Access rights are granted based on the principle of least privilege, ensuring that employees have access only to the data necessary to perform their job functions.
b. Encryption: All cardholder information is encrypted during transmission and storage. We use industry-standard encryption protocols to protect sensitive data.
c. Network Security: Our network infrastructure is secured using firewalls, intrusion detection systems, and regular security audits to identify and address vulnerabilities.
d. Regular Security Training: All employees handling cardholder information undergo regular security awareness training to ensure they understand the importance of safeguarding this data.
e. Incident Response: We have established procedures for responding to security incidents involving cardholder information, including notification to affected parties as required by law.
Data Retention
a. No Retention of Cardholder Details: DebtManagers does not retain any cardholder details, including credit card numbers, beyond the completion of the transaction for which the information was provided.
b. Transaction Records: While we do not retain cardholder details, we retain transaction records (e.g., receipts, invoices) for legitimate business and accounting purposes. These records are securely stored and access is restricted.
Monitoring and Inforcement
a. Audit and Monitoring: Regular audits and monitoring are conducted to ensure compliance with this policy. Any violations will be subject to disciplinary action.
b. Reporting: Any breaches or suspected breaches of this policy must be reported immediately to the designated security officer or management.
Review and Updates
This policy will be reviewed at least annually and updated as necessary to reflect changes in technology, regulations, and business practices.
Communication
This policy will be communicated to all employees who handle cardholder information, and they will be required to acknowledge their understanding and compliance with this policy.
Conclusion
The security and privacy of cardholder information is paramount to DebtManagers. This policy serves as a commitment to maintaining the highest standards of data protection and the non-retention of cardholder details beyond what is necessary for legitimate business purposes.