MALAYSIA’S leading cybersecurity outfit LGMS Bhd is taking proactive steps to help businesses achieve compliance with the Payment Card Industry Data Security Standard (PCI DSS) which the key benefit being that robust security measures are in place to protect financial transactions.
This comes at a time when digital transactions have become the backbone of modern commerce, thus making payment security a top priority for businesses handling sensitive cardholder data.
“PCI DSS compliance remains a challenge for many businesses, particularly SMEs and financial institutions due to the complexities of implementation, high costs and the evolving cybersecurity landscape,” acknowledged LGMS’ executive chairman Fong Choong Fook at a recent LGMS event.
‘LGMS is working to bridge this gap by offering expert guidance, assessments and training to help businesses navigate compliance requirements seamlessly.”
Added Fong: “Many businesses struggle with PCI DSS compliance not because they don’t want to but because they lack the technical expertise and resources to meet the requirements. Our goal is to simplify the process, hence enabling organisations to implement security measures that are both effective and sustainable.”
Towards this end, LGMS has recently introduced its latest edition of the PCI DSS Compliance Wizard, a user-friendly tool designed to help businesses simplify the compliance process.
The wizard acts as an interactive assistant, guiding businesses through PCI DSS requirements based on their specific operations, making the initial steps toward compliance more accessible.
“LGMS developed the wizard to cater to businesses of all sizes – from small merchants to large financial institutions,” revealed Fong.
“By providing tailored assessments and recommendations, the tool ensures that compliance is not just a regulatory requirement but an achievable goal, By leveraging this tool, businesses can enhance their overall security posture, reduce risks associated with payment fraud and build greater trust with their customers.”
Recall that LGMS’ PCI DSS v4.0.1 which was published on June 11 last year has introduced updates to improve security for payment card transactions and safeguard sensitive information.
The new version includes corrections to formatting and typographical errors while clarifying the intent of specific requirements and guidance. More importantly, no new requirements have been added nor have any existing requirements been removed.
“PCI DSS v4.0.1 is a refinement of existing standards aimed at improving clarity and usability,” highlighted PCI Security Standards Council (PCI SSC) regional vice-president Cheng Yew Kuann who is keynote speaker at the LGMS event.
“This ensures that businesses can implement security controls effectively and in a way that aligns with their operations.”
Added Cheng: “Beyond regulatory obligations, achieving PCI DSS compliance enhances consumer trust, reduces the risk of costly data breaches and strengthens a company’s reputation in the digital economy.”
At the close of today’s trading, LGMS was up 1 sen or 1.1% to 91.5 sen with 210,300 shares traded, thus valuing the company at RM417 mil. – March 17, 2025
