IAS CONNECT users,
This is a reminder that the Federal Trade Commission (FTC) Safeguards Rule goes into effect for financial institutions – including auto dealerships and their service providers such as iA American – on December 9th 2022.
As a contracted service provider, iA American is taking steps to protect Dealers’ Customer Personally Identifiable Information (PII).
Please read on for some background on the Safeguards Rule, how it impacts you, and important next steps to ensure you remain in compliance.
Background
The FTC recently revised its standards for safeguarding customer PII and what constitutes PII. The new Safeguards rule protection extends to certain information otherwise viewed as less sensitive information such as name, address, or email address when that information indicates a customer relationship to a financial institution.
The new Safeguards Rule requires financial institutions to implement Multi-Factor Authentication (MFA) for users accessing networks that contain customer PII, and to follow other protocols that ensure customer PII remains secured. MFA provides an enhanced level of security by using a second factor to verify identity, preventing anyone but authorized users from logging into applications, even if passwords are compromised.
How this impacts you
- MFA Account Set-Up: On or around November 15th, you will receive a registration email from Okta, our trusted third-party provider of MFA and world’s #1 identity platform, which will instruct you to set up MFA by creating a new password and selecting an additional factor such as text or the Google Authenticator mobile app.
- Login Process: From that point on, the login process will change slightly - the app login page will simply show a login button that will direct you to complete the secure MFA login process. Once you are logged in, you will be able to use the app as normal.
- Reports: Automated reports will no longer be attached to an email. Instead, the emails will provide a link to a secure location where the report can be accessed.
Benefits
- Setting up MFA protects you, in compliance with the FTC Rule.
- If you use other iA American apps such as Dealer Wizard, DealLog, OLÉ, SmartMenu, SmartP.R.U., and SmartEye, you will only need to register for Okta once – your MFA login details will serve as your only login credentials to all of these apps, so you won’t need to remember multiple usernames and passwords.
- When you log into one of these apps using MFA, you are automatically logged into all of the other apps you use.
Next steps
- Watch for the registration email from Okta on or around November 15th. If you do not receive it, check your email spam folder.
- When you receive this email, take immediate steps to register and set up MFA.
Stay tuned for additional information as we approach the FTC Safeguards Rule go-live, and if you have any questions in the meantime, please contact your iA American Sales Representative.