Ftc Safeguards Rule 2024 Accountants

Ftc Safeguards Rule 2024 Accountants

Ftc Safeguards Rule 2024 Accountants. In 2021, the federal trade commission (ftc) updated the requirements of the standards for safeguarding customer information, known as the safeguards rule (16 c.f.r. Under the safeguards rule, financial institutions must protect the consumer information they collect.


Ftc Safeguards Rule 2024 Accountants

The ftc safeguards rule requires businesses to identify and assess the risks to customer information in their possession and to design and implement safeguards to control those risks. In december 2021, the ftc amended the safeguards rule to expand its definition of a financial institution and to provide more concrete guidance regarding specific safeguards that covered.

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