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The Federal Trade Commission, or FTC, has put together a Safeguard Rule to help establish guidelines for how businesses store and interact with customer information. Enacted in 2003, this rule was recently revamped in 2021 to stay relevant with the latest technology used by businesses. Let’s look at some of the policies and procedures that your business needs to know about the FTC Safeguard Rule.
The days of the cash-only business are over. It doesn’t matter if your business is a multinational corporation or you cut grass for a living, accepting payment cards is not only convenient for your customers, most of the time it’s the most secure way to get paid. In an effort to protect the personal and financial information of consumers who have come to depend on their payment cards, the banks that back the credit card industry have developed a regulation that businesses who process cards need to adhere to. Today, we will go over this regulation and how it affects small and medium-sized businesses
Compliance laws regarding the storage and dispersion of healthcare records were implemented with the intended purpose of urging healthcare providers to better take care of their patients’ personal information, but how effective are they? Unfortunately, there are many providers that have failed to meet the standards for the HIPAA and HITECH compliance laws, and it has brought a hefty price tag along with it.
Data loss can have lasting effects upon your business, usually measured in lost productivity and capital. In other words, data loss is often measured by the cost required to retrieve, restore, and/or repair its effects. Of course, this is only the beginning of how data loss can impact your operations.
Technology is invading all practices, including those of medical offices and other health-related institutions like hospitals and dental offices. With the advent of electronic medical records (EMR) and their management systems, medical institutions are capable of eliminating the physical space required to store paper documents, and can instead easily store them in a digital environment. Unfortunately, this also brings its fair share of problems, such as regulatory compliance.
Preferred has been named as one of the Best Places to Work in Illinois in 2020, 2021 and 2022. The awards program began in 2006 and is promoted by The Daily Herald Business Ledger in partnership with the Illinois Chamber of Commerce, MRA-The Management Association, the Small Business Advocacy Council and Best Companies Group.
