Ftc Safeguards Rule 2024 Dealerships. The ftc recently announced significant changes to the safeguards rule that impact auto dealerships and how they secure data. In this episode of up to speed, matt gilbert, partner from baker tilly’s risk advisory team, offers an update and guidance on the ftc safeguards rule impacting dealerships,.
The safeguards rule requires covered financial institutions to develop, implement, and maintain an information security program with administrative, technical, and physical safeguards. As of june 9, 2023, auto dealerships are required to have a comprehensive cybersecurity program in place to comply with the federal trade commission safeguards rule which protects sensitive customer data.