Widespread data breaches and cyber attacks have led to monetary loss, identity theft, and other forms of financial distress for consumers across the US. The Federal Trade Commission (FTC) requires financial institutions to protect their customers’ data under the Safeguards Rule. Make sure your business stays compliant with the FTC’s new security guidelines with the help of our team at Mindcore.
The Standards for Safeguarding Customer Information, or the Safeguards Rule, took effect in 2003 under the federal Gramm-Leach-Bliley Act (GLBA). The rule requires financial institutions, such as mortgage brokers, auto dealers, and payday lenders to design, implement, and maintain a comprehensive security program to keep customer information safe. In 2021, the FTC amended the rule to keep pace with evolving technology. The revised rule outlines core data security principles that all covered companies must comply with.
Under the FTC’s new guidelines, your information security program must be written and appropriate to the size and complexity of your business, the nature and scope of your activities, and the sensitivity of the data you maintain. You must also designate a qualified individual to be responsible for the program and submit periodic reports to the Board of Directors (BOD).
At Mindcore, we can help you develop and execute an effective information security program tailored to your specific needs and goals. By leveraging our deep knowledge and expertise, we’ll work to ensure that you, as well as the vendors you share information with, satisfy all requirements of the Safeguards Rule.
Our risk assessments determine potential risks and threats, both internal and external, to your customer data. We’ll identify areas of concern, fill in the security gaps, and then create a preventative IT strategy to reduce the likelihood of future attacks.
Employees trained to spot risks can significantly enhance your security program’s impact. Our security awareness training services help educate employees and stakeholders on how to recognize existing threats and the steps to take to keep your organization safe.
It’s important to have an extra pair of eyes on your network and all security controls, including who has access to customer data and where it’s collected, stored or transmitted. Our 24/7 network security monitoring gives your company full visibility into your network whenever you need it.
Mindcore works with small businesses and large enterprises in New Jersey, Florida, and across the United States, providing best-in-class cyber security services. If your company falls under the FTC’s Safeguard Rule, you can trust our team to help you get the necessary controls in place to protect all customer data. Contact us for more information or to schedule a consultation today!
Mindcore offers the nation’s highest-rated IT solutions partnered with the biggest technology corporations in the country. Our IT consulting firms are based in Fairfield, NJ and Delray Beach, FL, helping businesses get the best IT services and customized technology solutions in the area. Not only do we serve New Jersey and Florida, we also offer our IT consulting services and managed IT services to businesses across the United States.
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