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FTC Safeguards Rule

FTC Safeguards Rule

How SyncraTec Can Help You Comply with the FTC Safeguards Rule

If you are a small business that offers financial products or services to consumers, you may be subject to the Federal Trade Commission’s (FTC) Safeguards Rule. This rule requires you to develop, implement, and maintain a comprehensive information security program to protect the privacy and security of your customers’ data.

The Safeguards Rule was recently amended to provide more specific guidance on what constitutes a reasonable information security program. The revised rule includes new requirements for risk assessment, encryption, multi-factor authentication, incident response, and reporting, among others. The rule will take effect in May 2022, and you need to start preparing now to avoid potential violations and fines.

At SyncraTec, we understand the challenges and costs of complying with the FTC Safeguards Rule. That’s why we offer managed IT services that can help you achieve and maintain compliance in a cost-effective way. We can help you:
As your trusted partner, we can provide you with the tools, expertise, and support you need to secure your customer data and comply with the FTC Safeguards Rule. We use industry-standard technologies and methodologies to deliver high-quality services that meet your business needs and budget.
One of the services we offer is a security assessment based on the CIS Controls v8 framework, which is a widely recognized and respected set of best practices for cybersecurity. The CIS Controls v8 framework covers 18 essential security areas, such as inventory and control of hardware and software assets, data protection, identity and access management, vulnerability management, incident response, and recovery.
There is no official mapping between the security requirements of the FTC Safeguards Rule and the CIS Controls v8 framework. However, many of the security requirements outlined in the FTC Safeguards Rule align with the best practices recommended by the CIS Controls v8. For example, the FTC Safeguards Rule requires financial institutions to implement multi-factor authentication, which is also a recommended practice in the CIS Controls v8. Similarly, the FTC Safeguards Rule requires financial institutions to conduct regular risk assessments, which is also a key component of the CIS Controls v8 framework. While there is no official mapping, organizations can use the CIS Controls v8 as a guide to help them meet the requirements of the FTC Safeguards Rule.
By conducting a security assessment based on the CIS Controls v8 framework, we can help you identify your current security maturity level, prioritize your security initiatives, and implement the appropriate controls to comply with the FTC Safeguards Rule. We can also help you monitor and measure your security performance over time, and provide you with actionable recommendations for improvement.

Don’t wait until it’s too late. Contact us today to schedule a free consultation and learn how we can help you comply with the FTC Safeguards Rule.

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