Applied Innovation has been conducting penetration testing for years. In light of the recent Safeguards Rule standards, we are offering these services on a broader basis to the ARM industry.
Anyone operating in the financial industry must now comply with the new Safeguard Rules that went into effect on June 9, 2023. As the name suggests, the purpose of the Federal Trade Commission’s Standards for Safeguarding Customer Information, the Safeguards Rule for short, is to ensure that entities covered by the Rule maintain safeguards to protect the security of customer information. Collection agencies are specifically named as businesses that must comply as defined by the rule.
The Safeguards Rule requires covered financial institutions to develop, implement, and maintain an information security program with administrative, technical, and physical safeguards designed to protect customer information. The Rule covers information about your own customers and information about customers of other businesses that have provided that data to you.
You are required to regularly monitor and test the effectiveness of your safeguards. Test your procedures for detecting actual and attempted attacks. For information systems, testing can be accomplished through continuous monitoring of your system. If you don’t implement that, you must conduct annual penetration testing, as well as vulnerability assessments, including system-wide scans every six months designed to test for publicly-known security vulnerabilities. In addition, test whenever there are material changes to your operations or business arrangements and whenever there are circumstances you know or have reason to know may have a material impact on your information security program.
Applied Innovation is now offering a reasonably priced option for your organization to meet the annual penetration testing requirement. If you are a client of Applied Innovation, you will receive additional testing discounts.
Contact our team today at firstname.lastname@example.org to book a meeting to discuss these services as well as our other solutions!