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5 Easy Steps to Mitigating Data Risk

5 Easy Steps to Mitigating Data Risk. Russell Grant. Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com. 5 Steps Understand The Applicable Law Control Who Has Access to Your Data Control How Your Data Is Moved

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5 Easy Steps to Mitigating Data Risk

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  1. 5 Easy Steps to Mitigating Data Risk • Russell Grant Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  2. 5 Steps Understand The Applicable Law Control Who Has Access to Your Data Control How Your Data Is Moved Have Binding Agreements in Place That You Understand Have a Fail-Safe Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  3. Understand The Applicable Law • Gramm-Leach-Bliley Act holds dealership responsible for data breaches • "[We are] pleased that the court has recognized the FTC's authority to hold companies accountable for safeguarding consumer data.” - Edith Ramirez, Chairwoman, Federal Trade Commission (FTC) Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  4. Control Who Has Access to Your Data • Sheer number of vendors with unrestrained access to consumer data • Lack of monitoring to ensure vendors are using the data in accordance to agreement • Dealers must consistently verify that all current data recipients are valid Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  5. Control How Your Data Is Moved • NADA advises all dealers to” push” DMS data to vendors instead of allowing vendors access to “pull” • Allows the dealer to know: • What data is going out • Who is receiving the data Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  6. Have Binding Agreements in Place That You Understand • Prior to ANY AND ALL transactions • Guarantees the protection of Dealership Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  7. Have a Fail-Safe • Cyber Liability Insurance • Increase Data Sharing = Increased Risk Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  8. Best offense is our Best Defense • Complacency can not be tolerated • Consequences are too great • Develop a plan Russell Grant | DealerVault | Vice President, Brand | russell.grant@dealervault.com

  9. Contact Info Full Name: Company: Job Title : Email: Russell Grant DealerVault Vice President, Brand russell.grant@dealervault.com

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