Questions & Answers

How do you Comply with the Safeguards Rule?

The Safeguards Rule requires companies to develop a written information security plan that describes their program to protect customer information. The plan must be appropriate to the company’s size and complexity, the nature and scope of its activities, and the sensitivity of the customer...

How do you Secure Information according to the Safeguards Rule?

The Safeguards Rule requires companies to assess and address the risks to customer information in all areas of their operation, including three areas that are particularly important to information security: Employee Management and Training; Information Systems; and Detecting and Managing System...

What are Protected Computers according to the CFAA?

The CFAA governs cases involving protected computers, which are defined as computers that are: • Exclusively used by a financial institution or the US government. • Not covered by the above, but: • are used by or for a financial institution or the US government; and • the offense affects the...

What are the Elements Required for your Information Security Program in the Safeguards Rule?

§314.4 Elements. In order to develop, implement, and maintain your information security program, you shall: (a) Designate an employee or employees to coordinate your information security program. (b) Identify reasonably foreseeable internal and external risks to the security, confidentiality, and...

What are the key principles illustrated by the FTC’s Anti-Spyware Cases?

Some get their foot in the door through trickery, hiding their evil intentions behind a veneer of legitimacy. Others sneak in by stealth, silently exploiting an unlocked entrance. However they gain entry, spyware programs cost consumers billions of dollars each year and erode confidence in new...

What are the Penalties according to the CFAA?

The penalties for committing CFAA offenses range between: • Imprisonment for up to one year for simple cyber trespassing. • A maximum of life imprisonment when death results from intentional computer damage. The Computer Abuse Amendments Act of 1994 added civil remedies to the CFAA allowing any...

What are the Prohibited Acts according to the CFAA?

The CFAA prohibits: • Computer trespassing, for example, hacking, in a government computer. • Computer trespassing that exposes certain government, credit, financial, or computer-housed information. • Damaging a government computer, a bank computer, or a computer used in, or affecting, interstate...

What are the Standards for safeguarding customer information in the Safeguards Rule?

§314.3 Standards for safeguarding customer information. (a) Information security program. You shall develop, implement, and maintain a comprehensive information security program that is written in one or more readily accessible parts and contains administrative, technical, and physical safeguards...

What is the Computer Fraud and Abuse Act of 1984 ("CFAA")?

The CFAA is the main federal criminal statute regulating hacking and other computer crimes. It amends the Federal criminal code to establish a federal offense of using a computer without authorization or using a computer with authorization for unauthorized purposes with the intent to execute a...

What is the Safeguards Rule?

The Safeguards Rule requires financial institutions under FTC jurisdiction to have measures in place to keep customer information secure. In addition to developing their own safeguards, companies covered by the Rule are responsible for taking steps to ensure that their affiliates and service...

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