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CyberCatch Launches Innovative Solution To Enable Compliance with U.S. Federal Trade Commission Cybersecurity Requirements for Thousands of Non-Bank Financial Institutions
CyberCatch Launches Innovative Solution To Enable Compliance with U.S. Federal Trade Commission C...
About this update from Cybercatch Holdings Inc
[{"type":"text","content":"\n \n \n \n CyberCatch Launches Innovative Solution To Enable Compliance with U.S. Federal Trade Commission Cybersecurity Requirements for Thousands of Non-Bank Financial Institutions\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n SAN DIEGO\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /CNW/ --\n \n \n \n CyberCatch Holdings, Inc.\n \n \n \n (\"\n \n CyberCatch\n \n \" or the \"\n \n Company\n \n \") (\n \n \n \n TSXV: CYBE\n \n \n \n ), an AI-enabled Software-as-a-Service (SaaS) solution provider of continuous compliance and cyber risk mitigation, is pleased to announce the launch of an innovative solution to enable compliance with U.S. Federal Trade Commission (FTC) cybersecurity requirements under its Safeguards Rule and recent amendment.\n \n \n \n \n \n \n \n \n \n There are thousands of non-bank financial institutions (NBFIs) in the U.S. that must comply with the FTC's Safeguards Rule and the recent amendment, and must implement not only an adequate information security program and cybersecurity controls, but also must now report a cybersecurity incident affecting at least 500 consumers to the FTC.\n \n \n These organizations range from auto dealers and finance companies, mortgage lenders, mortgage brokers, title companies, payday lenders, check cashing companies, collection agencies, tax preparation firms, personal property or real estate appraisers, investment advisers not required to register with the SEC, non-federally insured credit unions, fintech companies, among a wide range. They are all high value targets of cyber attackers, since they handle large amounts of confidential and sensitive consumer information and rely on many third parties and have not invested adequately in cybersecurity.\n \n \n This is why the FTC has amended its Safeguards Rule to highlight the cyber risk faced and is reminding these organizations of the compliance obligation to implement adequate cybersecurity and now mandating the reporting of a cybersecurity incident to the FTC.\n \n \n CyberCatch's unique AI-enable...