LGMS aims to be a regional leader in payment card industry security standard

AMIDST the surge of online transactions in today’s fast-paced digital era, the need for stringent cybersecurity especially in the realm of digital payments is of paramount importance.

This is where LGMS Bhd, a pioneer and one of Malaysia’s largest cybersecurity groups, continues to strengthen its role in the evolving digital payments sector by emphasising its long-standing expertise in payment card industry data security standard (PCI DSS) certification as a cornerstone of its growth strategy.

Towards this end, LGMS chief operating officer Gilbert Chu stressed that meeting PCI DSS requirement is a crucial step towards building unwavering trust in digital transactions.

“At LGMS, we have established a longstanding reputation for promoting and implementing PCI DSS standards, guiding businesses through this intricate journey and re-inforcing the security of digital ecosystems at every turn,” he told FocusM.

Established in 2004 by major credit card companies Visa Inc, MasterCard, American Express, Discover and JCB, PCI DSS is a global benchmark in securing credit and debit card transactions against data theft and fraud.

“PCI DSS is a set of security standards designed to ensure that all entities that transmit, process and store credit card information maintain a secure environment at all times,” explained Chu.

Gilbert Chu

“The standard plays a vital role in ensuring that companies dealing with cardholder data comply with technical and operational requirements that safeguard account data. Thus, it reinforces consumer trust and safeguarding the reputation of businesses and the broader financial industry.”

In fact, LGMS is one of the first few entities within the Asia-Pacific region capable of facilitating organisations to achieve PCI DSS certification.

“Our expertise lies not only in conducting thorough assessments but also in guiding organisations through the intricate process of attaining compliance with these stringent standards,” asserted Chu.

“This capability sets LGMS apart in a competitive market, highlighting our proficiency in a specialised yet crucial aspect of cybersecurity.”

LGMS’ focus on PCI DSS certification for clients is an integral part of its business strategy. It forms part of the group’s comprehensive suite of cybersecurity services tailored to address the multi-faceted challenges organisations face today.

“This holistic approach is crucial in a world where threats are constantly evolving and where a single point of vulnerability can lead to significant breaches,” envisages Chu. “By offering these services, we affirm our dedication to safeguarding digital assets, thereby reinforcing our role in shaping a more secure interconnected world.”

For the record, LGMS was also actively involved at the international 2023 PCI SSC community meetings held late last year in Kuala Lumpur.

At the close of today’s trading, LGMS was up 0.5 sen or 0.55% to 92 sen with 39,800 shares traded, thus valuing the company at RM420 mil. – Jan 11, 2024

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