Do you know that non-compliance with FTC Safeguards Rule could cost you nearly $15 million? Make sure your car dealership checks all the boxes with 2Secure Corp (646 560-5083)!
I recently expanded my business - I opened a car dealership twice the size of the one I had.
It can offer a whole lot more!
Can I get a chuckle? An eye-roll?
Ok, fine, you're not here for the jokes - you want to know what the FTC Safeguards Rule is and what it has to do with you and me. Fair enough.
So let's begin!
1. The Safeguards Rule was introduced in 2003 to ensure that financial institutions under the FTC's jurisdiction maintain safeguards (duh!) to protect customer information.
2. To keep up with the ever-evolving world of cybersecurity and cyber threats, the Rule was revised in 2021, introducing a new set of requirements which need to be implemented by December 9, 2022.
3. The Rule applies to all financial institutions under the FTC's jurisdiction - and that includes auto dealerships.
4. The easiest way to ensure compliance and avoid penalties is to hire a cybersecurity expert, such as 2Secure Corp.
2Secure Corp, which provides a full line of cybersecurity solutions for small to medium-sized businesses, offers a Safeguards Rule compliance service for auto dealers.
As a single data breach can cost you up to $15 million, the cost of non-compliance is steep indeed. Another important risk you should consider is the loss of customer trust and the damage to your company's reputation.
If that doesn't sound like a risk you're willing to take, it's best to ensure your auto dealership is in full compliance.
“Most businesses have enough issues they are obliged to comply with without having a whole new set of them imposed by the federal government,” explains a company spokesperson. “But once you have all this in place, it will give you much more confidence that your customer data is being fully protected, so you can retain the trust of all your loyal customers.”
Besides, compliance isn't as hard as you may think. After all, once you appoint your Qualified Individual, you're pretty much done. They will do all the heavy lifting.
With 2Secure, you get your expert who will ensure your business is in compliance with all other requirements set out by the FTC. This includes conducting regular risk assessments, reporting to the board of directors or senior management, and implementing safeguards to manage risks.
As the appointed Qualified Individual, 2Secure will carry out and supervise your car dealership’s information security system. It will also review access control, assess in-house and third-party apps, and encrypt stored data.
With 2Secure, you can easily address technical and procedural issues to protect personal and customer data and avoid those pesky fines!
Why 2Secure Corp?
A satisfied client said, “We have been working with 2Secure for 4 years now and we would highly recommend them. Their ability to strategize and implement on our IT needs, especially as related to security has been top-notch. Everybody is aware of the importance of network security and 2Secure Corp has proven to be proactive and ahead of the ever-changing threats we face.”
Having all these security protocols in place will protect your customers, staff, and business in the long run. You don't have much time left, but it doesn't take much time to dial 646 560-5083 or visit https://www.2secure.biz/ftc-safeguards-financial-institutions-rule
