vCISO Video: What Auto Dealers Needs to Know about the Extension of the FTC Safeguards Rule

Summary

The piece highlights an FTC extension giving auto dealers more time to comply with the Safeguards Rule, while emphasizing that the requirements themselves—such as documented security programs, risk assessments, and stronger technical controls—remain unchanged and mandatory. It also notes how Magna5 helps dealerships navigate these obligations with practical guidance and managed cybersecurity support.

Magna5 is tracking important details for car dealerships needing to implement the FTC Safeguards Rule. The amended Rule’s requirements had an original deadline of Dec. 9, 2022, but the FTC has extended that until June 9, 2023. John Petrozzelli, Magna5’s Cybersecurity Director, provides guidance on these changes.