FTC Safeguards Rule Compliance for Greenville Businesses
The FTC Safeguards Rule requires non-bank financial institutions to implement an information security program. We help you meet every requirement.
$46,517
Max FTC Penalty/Day
June 2023
Updated Rule Effective Date
9
Core Requirements
20+
Years in Greenville
Who Must Comply with the FTC Safeguards Rule?
The Rule applies to "financial institutions" under the Gramm-Leach-Bliley Act. This is broader than you might think — it's not just banks.
CPA & Accounting Firms
Tax preparers and accountants handle SSNs, W-2s, bank account numbers, and financial statements. The FTC classifies you as a financial institution under GLBA.
Penalties up to $46,517 per violation per day.
Auto Dealerships
Dealerships that offer financing, leasing, or insurance referrals are financial institutions under GLBA. You handle credit applications, income verification, and identity documents.
FTC enforcement actions and state AG penalties.
Financial Advisors & Planners
Investment advisors, wealth managers, and financial planners handle portfolio data, SSNs, and identity documents. SEC, FINRA, and GLBA all apply.
Regulatory and fiduciary liability.
Mortgage Brokers & Lenders
Mortgage originators, brokers, and servicers handle some of the most sensitive financial data in existence: credit reports, income verification, asset statements.
FTC enforcement and loss of licensing.
The 9 Core Requirements
The updated Safeguards Rule (effective June 2023) specifies these elements for your information security program.
Designate a Qualified Individual
Someone must oversee your information security program. This can be an employee or a service provider like PremierePC.
Conduct a Risk Assessment
Identify reasonably foreseeable internal and external risks to the security, confidentiality, and integrity of customer information.
Implement Access Controls
Limit who can access customer information. Use multi-factor authentication for anyone accessing customer data remotely.
Encrypt Customer Information
Encrypt data both in transit and at rest. This includes email, file transfers, laptops, and backups containing customer data.
Monitor and Log Activity
Implement continuous monitoring to detect unauthorized access or use of customer information. Log activity on systems containing customer data.
Develop an Incident Response Plan
Document procedures for responding to security events. Include notification procedures, containment steps, and recovery processes.
Security Awareness Training
Train staff on security risks and their responsibilities for protecting customer information. Regular training, not just one-time orientation.
Oversee Service Providers
Ensure your vendors who access customer data maintain appropriate safeguards. This includes your IT provider, cloud services, and software vendors.
Secure Data Disposal
Dispose of customer information securely within two years of last use, unless retention is required by law or regulation.
How PremierePC Gets You Compliant
Our Cyber+ plan covers the technical requirements of the Safeguards Rule. Here's how we help.
Risk Assessment
We conduct the required risk assessment, identifying threats to customer information across your systems, processes, and people.
Technical Controls
MFA, endpoint protection, email encryption, firewall management, and encrypted backups — implemented and managed by our team.
Monitoring & Logging
24/7 monitoring of your environment with activity logging on systems containing customer data. We detect threats before they become breaches.
Incident Response Plan
We develop and maintain your IR plan, including notification procedures, containment protocols, and recovery steps.
Ongoing Compliance
Annual risk assessment updates, staff training, policy reviews, and documentation maintenance. Compliance is ongoing — not a one-time project.
Email Encryption Is Not Optional
The FTC Safeguards Rule explicitly requires encryption of customer information in transit. If your firm sends tax returns, financial statements, SSNs, or account information via regular email, you are not compliant.
Our email encryption solution uses AES-256 encryption with a simple bracket syntax — no plugins, no apps, no training sessions. CloudFilter adds outbound content rules that detect PII patterns and flag unencrypted messages automatically.
It's the fastest path to satisfying the encryption requirement, and it takes less than 2 minutes per user to set up.
AES-256 Encryption
Every message encrypted in transit and at rest. Meets the Safeguards Rule encryption requirement.
Outbound Content Rules
CloudFilter detects SSN, credit card, and TIN patterns in outbound email. Catches what staff forget to encrypt.
Secure File Transfer
Bracket Share provides encrypted file upload links for clients. Up to 1 GB, no account needed.
Delivery Confirmation
Open notifications confirm when recipients access encrypted messages. Documented proof of secure delivery.
Frequently Asked Questions
Does the FTC Safeguards Rule apply to my business?
What are the penalties for non-compliance?
When did the updated Safeguards Rule take effect?
Do I need to encrypt email?
Can PremierePC serve as our "Qualified Individual"?
How long does it take to become compliant?
How does this relate to cyber insurance?
Ready to Get Compliant with the FTC Safeguards Rule?
We'll assess your current security posture, identify gaps, and build a compliance program that meets every requirement.
Call us at (864) 335-9223 or request a compliance assessment online.