The Federal Trade Commission (FTC) has just introduced a significant amendment to its safeguard rule, which has far-reaching implications for non-banking financial institutions and businesses that handle sensitive financial data. The aim is to enhance the protection of your financial information from potential cyber threats.

In June of 2023, the FTC Safeguard Rules go into affecting millions of businesses across the US. These businesses must implement cybersecurity or face fines or criminal prosecution. So let's talk about whether your business is affected by this. Who's affected? What does this mean? Let's get into it now.