Many dealerships have diligently worked to update their Information Security Programs in 2022 to come into compliance with the revised Safeguards Rule by the December 9th deadline. On November 15, 2022, the FTC announced that the compliance deadline would be extended until June 9th, 2023 for certain provisions of the revised rule.
Provisions Included in the Extension
The following requirements of the revised Rule now do not need to be in place until June 9, 2023.
Designate a Qualified Individual
Creation of a Written Risk Assessment
Implement Access Controls for Sensitive Customer Information
Encryption for Sensitive Customer Information
Training for Security Personnel
Creation of an Incident Response Plan
Service Provider Oversight
Implementation of Multifactor Authentication
Provisions Still Required by the December 9th Deadline
Continuous Vulnerability Scanning
Data and Systems Inventory
Systems Monitoring and Logging
Unauthorized Activity Monitoring
All-Employee Security Awareness Training
Secure Development Practices
Safe Data Disposal Practices
Change Management Procedures
Written Information Security Program (WISP)
Written Annual Report
Dealerships should understand that although they now have more time to come into compliance with the revised Rule, implementation of a full Safeguards Solution can take a month or more. Dealerships who have already begun the process should continue to roll out their programs. Dealerships who have not started the process should not delay.
Mosaic Cyber Security offers complete compliance with the revised FTC Safeguards Rule and has provided retail automotive compliance solutions for over 15 years. You can receive a tailored quote by filling out our Safeguards Status Questionnaire. In addition to satisfying all of the Rule’s requirements, Mosaic’s solution also allows you to pick and choose services a la carte. Our dedicated team will walk you through your custom roadmap, help set up your services, provide live support, and keep you on track so that you will achieve complete compliance on time!