Customer Information Protection (CIP)

In November 16, 2015

Protecting sensitive personal data has become increasingly more important as our presence online has continued to grow. Now a days, consumers can store their credit card information online in an easier and faster way, in order to make online purchases more efficient, and from stores and business side, store their customer´s data in online data warehouses, become information available, reachable and safe when it is needed. To ensure that a customer’s data is treated with the utmost security, the financial industry regulatory authority or FINRA has put together regulatory compliance standards that businesses must comply with which is known as customer information protection (CIP).

Customer information protection is a set of procedures put in place to keep your financial and personal data safe online. In order to keep your sensitive data secure from any risk, companies spend billions globally to make sure their customer’s data are kept safe. A few ways business accomplish this is by doing the following.

  • Using a dedicated and secure server. Many sites that do not have personal data store on them will use a shared server and they will be just fine. However you don’t want employees, strangers, other business, or hackers easily getting a hold of your customers or employers sensitive information. Setting up your own dedicated server that is secure will put all sensitive information in the hands of only the department who has the authority or clearance to view it.
  • Set up restrictions to customer data. Similar to what was noted above, only certain employees should ever be able to access your customer’s data. This may be the certain financial teams or engineering teams. Only a select few should ever be able to view sensitive data.
  • Use encryption on all files. Any and all data kept online or sent online should be encrypted so only certain people can access it. If the data is left unencrypted is open for anyone to access.
  • Only work with secure and trusted vendors for any and all services that cannot be completed by an in house solution. Be sure that any data collected will not be sold to another company.
  • Set up knowledge based authentication login systems for your customers. Always verify and confirm a user’s identity when sensitive information is at stake if put in the wrong hands.

These are just a few ways businesses, both big and small, can protect their customers’ personal information. If you are looking for a secure and trusted way to obtain vital records online, contact VitalChek.

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