Companies Comply to Safeguard Rules

The Safeguard Rule requires that each business develop a written security plan that must be kept on file in order to protect customer information.  The company’s size and complexity must be taken into account when forming the plan.  A large corporation would form a very different plan than a small local business.  Also, some other things to take into account are things such as what types of services your business offers and the sensitivity of the information that you have from your customers.

Here are steps you can take to form this security plan:

1. Pick an employee(s) to put together the security program
2. Analyze the risks that are involved with your customer’s information
3. On a regular basis, be checking and testing your safeguards program
4. If changes occur in your business, make sure to adjust your security measures accordingly

Going further in depth, it is your responsibility to know where sensitive customer information is stored.  You must also make sure that all electronic files are kept secure by using a strong password.  Maintaining secure backup records is crucial in the case of someone crashing your servers and stealing all the information.  Also, make sure all communication with your customers about their information is kept secure.

Planning for system attacks is another crucial way to defend yourself against identity fraud attacks.  The FTC recommends that you monitor websites of relevancy to your company to stay on top of emerging threats and defenses that are available.  Also, keep all your systems updated and maintained.

Know whom to contact in the event of a security breach.  There are many different departments for different identity crimes, and knowing who to go to will save you time and money.  Don’t make the mistake of thinking that you won’t suffer too if an identity thief steals one of your customer’s information.

The Federal Trade Commission is committed to helping you as a business stay on top of identity theft.  On their website you can find useful information and tools to help your business to stay safe and secure.  They will be able to point you in the right direction for where to go depending on what type of security breach you’re facing.  You can visit their website by going to www.ftc.gov.

For more information on complying with the safeguard rules, you can visit http://www.ftc.gov/bcp/conline/pubs/buspubs/safeguards.shtm.