#45: Cash in the Cyber Sheets - FTC Safeguards Checklist - Security Controls Deeper Dive

In this episode of Cash in the Cyber Sheets, we continue our FTC Safeguards Rule Checklist for Compliance series by diving deeper into the practical implementation of security controls. Last time, we outlined the critical components of a risk-based approach—now, we’re getting into the nitty-gritty of making those safeguards work effectively in your organization.

With the FTC’s updated Safeguards Rule now in full effect, businesses handling customer financial data must establish robust security measures to mitigate risks, prevent breaches, and maintain compliance. This episode breaks down the key controls required under 16 CFR § 314.4(c), including:

🔹 Access Controls – Enforcing least privilege, MFA, and strong authentication to prevent unauthorized data exposure.

🔹 Asset Management – Identifying critical data and systems, classifying risk levels, and prioritizing protections.

🔹 Data Encryption & Alternative Safeguards – Securing data in transit and at rest, and implementing compensating controls when encryption isn’t feasible.

🔹 Secure Development Practices – Building security into applications using OWASP best practices and proactive code review.

🔹 Data Retention & Disposal – Establishing clear policies to eliminate unnecessary data storage and minimize breach risks.

🔹 Change Management & Monitoring – Ensuring updates don’t introduce new vulnerabilities and leveraging logging for real-time threat detection.

We also explore how businesses—especially those without a dedicated security team—can streamline compliance using Input Output’s Written Information Security Program (WISP), which provides ready-to-use policies, procedures, and incident response templates to simplify implementation.

Staying compliant isn’t just about checking boxes; it’s about maintaining an adaptable security posture that protects your customers and your business. Tune in to Cash in the Cyber Sheets as we break it all down, making compliance easier (and maybe even a little fun).

🔊 Listen now and take control of your security program!

Grab your copy of the: FTC Safeguards Rule Checklist for Compliance Infographic

Check out our companion article for even more in-depth review of best FTC Safeguards Rule security practices at: FTC Safeguards Rule Checklist: Implementing Appropriate Controls with a Risk-Based Approach