Comparison between APRA CPS 234 and PCI-DSS
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Overview
APRA CPS 234 and PCI-DSS are both cybersecurity standards that organizations must adhere to in order to protect their data and systems. APRA CPS 234 is an Australian standard that applies to all organizations that are regulated by the Australian Prudential Regulation Authority. PCI-DSS is a global standard that applies to any organization that processes or stores credit card information. Both standards have similar requirements such as the need to have strong access control and monitoring. However, APRA CPS 234 is more comprehensive and has more stringent requirements than PCI-DSS. For example, APRA CPS 234 requires organizations to have a formal incident response plan and to conduct regular security assessments, whereas PCI-DSS does not.
Contents
What is APRA CPS 234?
APRA CPS 234 is a set of standards for the security of cloud services. It was developed by the Australian Prudential Regulation Authority (APRA) and is intended to help financial institutions protect their data when using cloud services. The standards cover a range of topics including governance, risk management, access control, systems and data security, and incident management. The standards are designed to ensure that financial institutions can securely store and process data in the cloud, while meeting their regulatory obligations. The standards are intended to be used by financial institutions in Australia, but may also be applicable to other organizations using cloud services.
What is PCI-DSS?
The Payment Card Industry Data Security Standard (PCI-DSS) is an information security standard for organizations that handle credit card and debit card information. It was created by the major credit card companies to help protect their customers' information from unauthorized access and use. The standard is designed to help organizations protect cardholder data by requiring a set of security measures that must be followed. These measures include encrypting data, implementing strong access control measures, regularly monitoring and testing networks, and developing secure applications. The PCI-DSS also requires organizations to maintain a secure environment for their customers' information and to report any security breaches.
A Comparison Between APRA CPS 234 and PCI-DSS
1. Both standards emphasize the need for organizations to protect the confidentiality, integrity and availability of information systems and data.
2. Both standards require organizations to implement a comprehensive set of security controls and processes to protect their systems and data.
3. Both standards require organizations to conduct regular security assessments and testing to identify and address any vulnerabilities.
4. Both standards require organizations to establish and maintain a security incident response plan.
5. Both standards require organizations to implement access control measures to ensure only authorized personnel can access sensitive data and systems.
6. Both standards require organizations to implement strong authentication measures.
7. Both standards require organizations to monitor and log system activity.
8. Both standards require organizations to provide staff training on security policies and procedures.
The Key Differences Between APRA CPS 234 and PCI-DSS
1. Scope: APRA CPS 234 applies to all entities regulated by APRA, while PCI-DSS applies to any entity that processes, stores, or transmits cardholder data.
2. Compliance: APRA CPS 234 requires entities to comply with all applicable laws and regulations, while PCI-DSS requires entities to comply with the specific standards set out in the PCI-DSS.
3. Standards: APRA CPS 234 outlines specific standards that must be met, while PCI-DSS provides a more general framework for organizations to follow.
4. Auditing: APRA CPS 234 requires entities to undergo regular audits, while PCI-DSS does not require regular audits.
5. Enforcement: APRA CPS 234 is enforced by APRA, while PCI-DSS is enforced by the PCI Security Standards Council.