Ftc Amended Safeguards Rule 2024. As of may 13, 2024, these institutions will be required to report to the ftc unauthorized acquisitions of unencrypted customer information, involving at least 500 customers. The final rule amends the ftc’s standards for safeguarding customer information (“safeguards rule”), which was last amended in december 2021.

The ftc originally proposed amending the safeguards rule to add a breach notification requirement in late 2021. Going forward, financial institutions subject to ftc jurisdiction are now required to report data.