WHY IS THIS HAPPENING?
The FTC Safeguards Rule is an integral part of their efforts to protect the security, confidentiality, and integrity of customer-sensitive information from cyberattacks, identity theft, and other types of fraud. Beginning June 9, 2023, the FTC Safeguards Rule will go live where all financial institutions, including “non-banking financial institutions” like auto dealerships, will be required to prove compliance.
WHAT HAPPENS IF WE DON'T TAKE ACTION?
Failure to comply by June 9th could result in significant fines from the FTC. If your business is selling cars, don’t let June 9, 2023, get here before you achieve compliance. If you don’t feel like your dealership(s) is ready, we would love to have a complimentary conversation with you. If you choose not to use our services to gain compliance, that’s okay, just do it with someone that can help you navigate through the process to make sure you are compliant.