The Federal Trade Commission (FTC) announced the first cybersecurity updates to the Gramm Leach-Bliley Act (GLBA) Safeguards Rule since 2003. The new rule strengthens the required security safeguards for customer information. This includes formal risk assessments, access controls, regular penetration testing, vulnerability scanning, and incident response capabilities, among other things.
Some of the updated rules include but are not limited to Auto Dealerships which require the information security program to include the processes and safeguards (i.e., risk assessment, access controls, encryption, security safeguards, monitoring, and MORE). The deadline is soon approaching.
Fines for non-compliance could cost you up to $100,000.00 and result in jail time.
Let us know if you need assistance as time is running out to be compliant!