Cybersecurity is an important and high-profile component of the federal Safeguards Rule requiring dealerships and other financial institutions to protect customer information. But Terry Dortch, CEO of compliance company Automotive Risk Management Partners, recommended dealerships also conduct frequent physical audits of their companies.
"While data and cybersecurity breach prevention are undeniably crucial for dealerships, it's important to note that much of the information that identity thieves seek is not deterred by software security in these systems alone," Dortch said in a statement.
Information can be found in deal jackets left unsecured near copy machines and on finance and insurance and sales department desks, according to Automotive Risk Management Partners.
"Malicious eyes of individuals — even customers — wandering the dealership may be enticed to commit these crimes if access to valuable personal financial information is presented so readily to them," the company wrote in a May 22 news release.
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