What’s up CEOs!
If you're a licensed dealer, you handle sensitive customer information. it's important to be aware of the Federal Trade Commission's Safeguard Rule. This rule sets standards for protecting customer information and can help prevent data breaches and identity theft.
Key Objectives of the Safeguard Rule:
Protecting Consumer Data: The primary objective of the Safeguard Rule is to protect the privacy and security of consumer data. It requires businesses to establish policies and procedures to safeguard sensitive information, such as social security numbers, bank account details, and credit card information, from unauthorized access and misuse.
Preventing Data Breaches: The rule aims to minimize the risk of data breaches by ensuring that businesses have robust security measures in place. This includes implementing secure data storage systems, encrypting sensitive information, and regularly monitoring and testing the effectiveness of their security...