BANCABC Zimbabwe has attained compliance with a set of policies and procedures intended to optimise the security of credit, debit and cash card transactions and protect card holders against misuse of their personal information.
The Payment Card Industry Data Security Standard (PCI DSS V3.2.1) gives guidelines on how institutions responsible for payments can protect their clients against cybersecurity attacks.
This comes as the Bankers Association of Zimbabwe has bemoaned the increase in bank fraud.
In a Press statement, the bank said attaining the standard showed that it was committed to safeguarding the information of its customers from fraud and theft.
“This certification is one of the strictest and most comprehensive payment security certification standards in the world,” BancABC said.
According to the bank, the PCI DSS which it attained is used by all major card brands as a common security standard for their compliance programmes.
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It also covers several aspects related to protection of customer’s confidentiality, data handling, guarding against theft of data, and internet-based intrusions.
“PCI DSS is used by all major card brands as the common security standard for their compliance programmes,” BancABC said.
“The standard covers several aspects related to protecting customer confidentiality and data such as the handling of data by the bank’s systems, guarding against theft of data as well as internet-based intrusions.”
BancABC acting chief executive officer (CEO) Vander Mutenga said the attainment of the certification proved the bank’s strong commitment to safeguarding information.
SISA founder and CEO Dharshan Shantamurthy congratulated BancABC Zimbabwe on accomplishing the PCI DSS certification.
“Zimbabwe’s banking sector has always been at the crossroads of innovation and tradition, navigating unique cybersecurity challenges in an ever-evolving digital landscape,” he said.
“Audits from SISA are stringent, aligning with our brand promises of true security, fanatic support, and business value.”
BancABC is a subsidiary of financial services holding company Atlas Mara Limited, headquartered in the British Virgin Islands.