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FTC - 67 No. 36484
(Federal Trade Commission) |
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May 2003
Description
FTC - 67 No. 36484
The objectives of these standards are to: ensure the security and confidentiality of customer records and information; protect against any anticipated threats or hazards to the security or integrity of such records; and protect against unauthorized access that could result in substantial harm or inconvenience to any customer.
To date, the FTC has two rules ( both are based on FFIEC Banking Guidelines):
- Safeguard Rule ¨C protect confidentiality and integrity
- Privacy Rule ¨C enforcement of privacy statement, opt out, and limits disclosure
The Safeguards Rule applies to businesses, regardless of size, that are significantly engaged in providing financial products or services to consumers. This includes check-cashing businesses, data processors, mortgage brokers, non-bank lenders, personal property or real estate appraisers, professional tax prepares, courier services, and retailers that issue credit cards to consumers.
Each violation may result in a civil penalty of $11,000
Audit Body
FTC
Industry Affected
Businesses that
are engaged in providing financial products or services to consumers.
Distributed Taps and FTC-67 Compliance
VSS tap's help to protect information confidentiality and integrity.
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