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This is Fred Ball for Zions Bank, speaking on business.
In the last decade it's become standard to use a credit or debit card as your primary form of payment. However, what you may not realize is that a retailer's computer stores your credit card information, which could put it at risk. That's what customers of TJX Companies, best known for its discount stores TJ Maxx and Marshall's, found out the hard way.
In late 2006, TJ Maxx discovered its computer system had been breached and several million credit card numbers were at risk for identity theft. This resulted in a full investigation as well as costly litigations and settlements to resolve the situation.
Gordy Jacobsen, Travis Nielsen and Ryan Ollivier founded the Utah-based Cadence Group in 2005 when they realized scenarios like this were becoming more common. The Cadence Group assists companies in complying with a set of requirements recently established by the Payment Card Industry, or PCI. The PCI is a joint venture of the major credit card companies to create and enforce security standards. All merchants and service providers accepting or processing cards require some level of compliance.
The Cadence Group provides assistance with both the implementation and compliance of these safety standards through security assessments, which include network penetration testing where companies pay to have Cadence try to exploit security holes that could potentially compromise security.
In addition to PCI assessments, Cadence provides a wide range of business advisory and assurance consulting services, including internal audit, Sarbanes-Oxley readiness, SAS70 assessments and regulatory compliance in the areas of finance, accounting and information technology.
Cadence's clients look to the company for ways to optimize their accounting and information systems. The company takes its clients' trust seriously and only hires personnel with the insight and skills necessary to provide the best possible value.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
