In today’s digital business landscape, protecting sensitive customer information is more important than ever. For small business owners, navigating the complexities of regulatory compliance can be a daunting task. One such critical regulation is the Federal Trade Commission’s (FTC) Safeguard Rule which requires financial institutions to develop, implement, and maintain a comprehensive information security program to protect customer data.
With limited resources, many small businesses struggle to meet these stringent requirements on their own. However, there’s a solution – partnering with an outsourced IT and Compliance support company like BizCom Global can greatly simplify the process of achieving and maintaining FTC Safeguard Compliance. In this article, we’ll delve into the importance of safeguarding customer data, and how we can assist your small businesses in this process.
Customer data is one of the most sensitive things businesses can store, especially when it comes to financial information. As much as you wouldn’t want your businesses banking information to end up on the Dark Web, your customers don’t want that for their data either! The FTC has come up with a comprehensive but reasonable security standard that will help you protect not only the customer data you store, but your own as well.
The Safeguards standard covers three main areas: access control, disaster recovery, and policies. Access control deals with how your data is accessed by employees, disaster recovery deals with how your business responds in the event of a cyber-attack or other disaster, and policies are all about having written records of how you operate your business.
All these areas can be easily covered by partnering with BizCom Global. We know exactly what the Safeguards Rule is asking for and what tools to implement to cover all the requirements. While the standard is one that you could attempt to cover on your own, it would take time away from running your business to figure out everything in the standard as well as research what you could do to cover those gaps. Having a compliance partner that knows the ins and outs of the Safeguards Rule already as well as having experience with matching it to businesses of all sizes could simplify the process for you, leaving more time to grow your business.
Here's how BizCom can help
Not only can BizCom Global keep you up to date on your compliance, but you also get the added benefit of having proactive security measures and monitoring, giving you the peace of mind that you won’t be the next victim of a cyber-attack.
At BizCom Global we are committed to helping you along your path to compliance and cyber-safety. Let us simplify any compliance needs you have and take care of your business and your data.
Sign up for an FTC Compliance assessment today by clicking the link below so we can help you make sure that your business is protected correctly.
If you need help with more than just FTC Safeguards compliance, our RiskLOK™ service might be a better fit. Schedule a RiskLOK™ discussion today.