A practical guide to financial data protection
This book helps collection agencies navigate the complex environment confidently. It offers actionable guidance on strengthening cybersecurity while complying with regulations like the GLBA Safeguards Rule, grounded in real-world best practices.
by Jonathan Goldberger (Author), James Kreutel (Author)
But beyond compliance and defense, there is another compelling reason to take cybersecurity seriously: trust. In a highly competitive market, clients and consumers increasingly seek partners who can prove they take data protection seriously. A well documented cybersecurity program can differentiate your firm, win new business, and build long-term client relationships. Security is no longer just about avoiding risk—it’s about enabling growth and inspiring confidence.
In an era where financial data is the primary target for cybercriminals, collection agencies find themselves in a high-risk position. Managing Non-Public Personal Information (NPI) isn’t just a business process; it’s a massive responsibility.
A single data breach can lead to:
Compliance is no longer optional. The updated FTC Safeguards Rule requires non-banking financial institutions, including debt collectors, to maintain a comprehensive information security program.
Our guide, Cybersecurity for Collection Agencies, breaks down these complex requirements into actionable steps. We cover:
Written by industry experts Jonathan Goldberger and James Kreutel, this book serves as a roadmap for agency owners and IT managers.
Yes. The rule applies to all financial institutions under FTC jurisdiction, regardless of size, that are significantly engaged in financial activities like debt collection.
At a minimum, an annual comprehensive risk assessment is required, but continuous monitoring is the gold standard for modern financial data protection.
Education and assessment. Understanding your current vulnerabilities is essential before investing in expensive software solutions.
