The laws surrounding how we should collect and use personal data about individuals is set to change very soon. And that’s big news for car dealerships, large and small. The original Standards for Safeguarding Customer Information took effect in 2003 but the FTC amended it in 2021. These latest changes will take effect December 9, 2022.

It’s meant to ensure that entities covered by the Rule maintain safeguards to protect the security of nonpublic, personal customer information. This includes but is not limited to sensitive information, like SSN and DOB.

How will it affect Dealers: Amongst other potential changes, a dealership would need to create an information security program. A lot of your compliance will start and end with your DMS. It’s imperative to understand how your DMS is and isn’t helping to meet these requirements. If you’re not using Deal Pack yet, you may be at a higher risk of compliance failure.

With Deal Pack:

• Your data is already encrypted, and an audit trail is already in place.
• Multi-factor authentication that meets FTC guidelines will be live in Deal Pack December 9^th.
• All authorized users’ activity is logged, specifically regarding sensitive data.
  • One example:” viewing DOB or SSN. This data is only viewable if Employee:
    • Has a certain level of access to the system (determined by a system administrator).
    • Clicks “view” button next to SSN or DOB field (blacked-out otherwise).
    • Enters their employee password.
    • Enters reason for accessing information.
  • All of this will be tracked in the system and be quickly accessible anytime on the “FTC Audit Report.” Conducting a risk assessment will be painless.

These are just a few examples of how your DMS can greatly affect your likelihood of compliance in an ever-changing industry. To learn more about Deal Pack or to schedule a demo, please call 800-526-5832 or email support@abcoa.com.