Keeping up with the latest in cybersecurity can be a daunting task. New and more dangerous threats could be circulating at all times. It's a good idea to stay informed of potential dangers so you can take stronger steps to keep your systems safe. Though the types of attacks and IT security risks to your dealership below are not new, they are continuing to increase both in frequency and sophistication.
A dealer's list of daily to-dos is sometimes longer than the available hours in a day. In addition to handling numerous requests from a variety of people, attending store meetings, and following up with potential buyers, tasks like compliance obligations can rapidly pile up to an overwhelming level.
Dealers keep their customers’ personal information on file for business purposes; however, there is a growing need for effective data security measures to prevent this information from falling into the wrong hands. The rising cost of cybercrime is expected to exceed $2 trillion by 2019, while a large number of consumers, 68%, don’t trust brands to handle their personal information appropriately.
In August 2018, a critical vulnerability was discovered by researchers who were able to send an encoded fax document, placing malicious malware on the receiving fax machine. Yes, even fax machines are subject to security vulnerabilities. If these machines are connected to your network, that's where the risk lies in wait.
When you practice daily hygiene, (and let's hope you do) you have a routine for activities like showering and brushing your teeth.
The same concept applies to manage security or cyber "hygiene"; you create a system of routines and checks required to preserve your dealership's online health.
In today’s marketplace, the security of sensitive data is crucial to the sustainability of consumer trust and ultimately the success of any business. Nowhere is this concept more relevant than in the modern dealership ecosystem.
Physical Data Breach: Visual Hacking and Clean Desks. Updated advertising, new marketing campaigns, manufacturer incentives, and the creation of a sales-friendly environment in your showroom may increase traffic. However, not every person who wanders in will be intent on buying a car. Most may be shopping, but not all may be shopping for a car: paper credit applications on desks, open credit reports on laptops, papers containing sensitive data in the trash, or keys left out on desks are a few of the items malicious actors are looking to exploit at your dealership.
Protecting your dealership from conducting business with criminals is no easy task. As part of the many compliance tools available within the RouteOne platform, we offer a full service identity verification tool that helps manage compliance tasks and fits seamlessly into your everyday workflow. IDOne makes it easy to validate your customers’ identities and pinpoint potential fraud without missing a beat. We’ve taken the manual work out of identifying potential issues because we automatically generate additional quizzes in real-time when needed. This means that you don’t have to decide when further action might be needed – we’ll handle that for you.
Customizable settings give you the flexibility to set tolerances for alerts so you can decide the appropriate risk strategy for your dealership. All results can easily be found in RouteOne’s Deal Manager along with the ability to manually review and override any red flag cautions. IDOne complements other RouteOne compliance features like SecureDocOne, that provides electronic storage and retrieval of any document, including IDOne results, at any time, for years to come.
We know that monitoring and making decisions around Adverse Action is a big process. Our platform offers many compliance features to help you within your everyday RouteOne workflow, including the ability to automatically create an Adverse Action Notice to be distributed, that is pre-populated with customer information as a .pdf. Our Adverse Action Mailing Service takes that one step further. Check one more item off your to-do list and let us mail Adverse Action Notices to applicable customers on a weekly basis, on your behalf. All you need to do is choose from a variety of packages to best fit your dealership’s compliance strategy and RouteOne will automatically generate the Adverse Action Notice, stuff it in an envelope, apply postage, and mail it to the customer. No need to worry about applicants getting multiple Adverse Action Notices. Our service syncs across multiple applications and will only mail one notice per primary applicant.
You can keep track of RouteOne’s mailing activity within an individual record and you will receive a detailed monthly transaction report of all notices mailed. You also have the flexibility to individually exclude applicants from receiving notices by overriding within the RouteOne Compliance Dashboard. Let RouteOne help ease some of your challenges of managing compliance. Just select the package that best meets your dealerships compliance strategy and we’ll do the rest!