Virtru’s Zero Trust data encryption protects customer data in motion and at rest, equipping organizations to comply with evolving FTC regulations.
According to the Federal Trade Commission (FTC), The Safeguards Rule requires financial institutions under FTC jurisdiction to have measures in place to keep customer information secure.
The FTC Safeguards Rule outlines encryption as a way to strengthen the security of customer data. Rule 314.4 (c) (3) states: "In order to develop, implement, and maintain your information security program, you shall... Protect by encryption all customer information held or transmitted by you both in transit over external networks and at rest."
The mortgage application process includes the collection of a wide range of sensitive consumer data. Mortgage lenders should leverage encrypted file transfer solutions to securely collect and share sensitive data with loan applicants.
Trusted financial advisors should respect client data by securing their sensitive financial information. As advisors increasingly use cloud-based services and email to communicate with clients, it's essential to protect consumer data with encryption.
The FTC highlights additional organizations that may fall under the Safeguard Rule, including travel agencies, check cashiers, wire transferors, collection agencies, and more.
Email represents a massive surface area of risk, especially when sensitive data is shared over email. Virtru’s email encryption layers into the applications your employees already use, so they don’t have to change their workflows to protect sensitive data.
Sending sensitive documents over email is not always a viable option. Instead, a file-sharing solution with complete data privacy controls is required. Secure Share enables you to securely send and receive files of nearly any size with individuals inside and outside your organization.
Need to protect data moving across custom-built apps or even edge devices? Join the more than 7,000 customers who have already partnered with Virtru to execute a Zero Trust strategy that moves safeguards your customers' data, anywhere it moves.
Sensitive data flows throughout your organization. Safeguard that information by putting Virtru’s data protection gateway in place to automatically encrypt and decrypt data moving in and out of apps like Salesforce, Zendesk, and others.
For those who accept or process payment cards, Payment Card Industry (PCI) data security standards apply to you, and those include protecting stored cardholder data as well as encrypting transmission of cardholder data across open, public networks. It also requires maintaining a policy that addresses information security for employees and contractors.
Largely aligned with the National Institute of Standards and Technology (NIST) recommendations for cybersecurity, FINRA evaluates firms’ cybersecurity and risk management processes to ensure customer data is protected. According to FINRA, it “assesses a firm’s ability to protect the confidentiality, integrity, and availability of sensitive customer information.”
The Consumer Financial Protection Bureau underscores the need to comply with GLBA, particularly as it relates to transparently communicating privacy practices to consumers.
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