3 Ways Your DMS Can Help Ensure Dealers’ Compliance with FTC Safeguard Amendment

By Trey Latham - August 29, 2022

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.

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

Amongst other potential changes, a Dealership would need to create an information security program. Your path to 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, you may be at a higher risk of compliance failure.

With Deal Pack:

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

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.

Subscribe to Deal Pack Blog