Fraudsters appear to be exploiting disruptions in business operations caused by the coronavirus outbreak to perpetrate new variations on the scam, including hijacking Paycheck Protection Program loans to small businesses.
Every business, large or small, has a responsibility to protect their customers’ personal information, including their payment details. To ensure this happens, credit card companies came together in the mid-2000s to establish guidelines known as the Payment Card Industry Data Security Standards (PCI DSS).
Business needs are more complex than consumer needs. Companies require oversight, visibility into activities, audit trails and more to protect their accounts payable processes from errors, misuse or fraud.