If you’re unaware (or are aware), the Federal Trade Commission is now requiring ALL non-banking financial institutions to abide by a set of standards they are calling the FTC Safeguards Rule.

This requirement went into effect on June 9, 2023. If you’re reading this, you’re out of compliance. I highly recommend you book some time below.

Here is a link to an article by the FTC: FTC Business Blog

Here is a quick list of things you need to abide by:

designate a qualified person to oversee their information security program,

develop a written risk assessment,

limit and monitor who can access sensitive customer information,

encrypt all sensitive information,

train security personnel,

develop an incident response plan,

periodically assess the security practices of service providers, and

implement multi-factor authentication or another method with equivalent protection for anyone accessing customer information.

Feel free to book some time with our Alpha below: