Dealership Data Breach Risk to the Consumer
Transcript
Kelly : What’s the risk to the consumer regarding data loss? n
nKen : Well, let me just expand on that a little bit to the, with the new safeguards regulation, it is any consumer information that’s coming into your dealership. It’s not just on credit, right? It’s not just credit applications, credit reports, it’s any consumer information that’s flowing into your dealership service lane. You know, what are you doing at the front desk? Are you writing down an appointment on a piece of paper? Are you entering it into a CRM? Right? n
nI think there’s probably people that still use paper. I found that, that well, you know, if, if a dealership has a breach, right, there’s a reason that they’re coming after that data. Right there. And there’s a reason and typically the reason is to grab that information and then be able to steal people’s identities, right? If I can have access to someone’s name and address and and I can get their credit file, right, I have access to their account information, I have access to their date of birth, their social security number, maybe right I can start to open lines of credit, right, steal their identity, open lines of credit. I think pretty much most people should be familiar with identity theft and how to keep an eye out, watch for it and monitor for it. And so that’s the risk for the consumer of having their identity stolen.n
nKen : Well, let me just expand on that a little bit to the, with the new safeguards regulation, it is any consumer information that’s coming into your dealership. It’s not just on credit, right? It’s not just credit applications, credit reports, it’s any consumer information that’s flowing into your dealership service lane. You know, what are you doing at the front desk? Are you writing down an appointment on a piece of paper? Are you entering it into a CRM? Right? n
nI think there’s probably people that still use paper. I found that, that well, you know, if, if a dealership has a breach, right, there’s a reason that they’re coming after that data. Right there. And there’s a reason and typically the reason is to grab that information and then be able to steal people’s identities, right? If I can have access to someone’s name and address and and I can get their credit file, right, I have access to their account information, I have access to their date of birth, their social security number, maybe right I can start to open lines of credit, right, steal their identity, open lines of credit. I think pretty much most people should be familiar with identity theft and how to keep an eye out, watch for it and monitor for it. And so that’s the risk for the consumer of having their identity stolen.n