EC-Council: Computer Hacking Forensic Investigator(CHFI-V10) |
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Module 1 : Computer Forensics in Today's World |
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| Notes available : 31 |
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Gramm-Leach-Bliley Act (GLBA)
The Gramm-Leach-Bliley Act requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data. The GLBA‘s purpose was to remove legal barriers preventing financial institutions from providing banking, investment and insurance services together. The regulation requires a financial institution to disclose its policies and practices for protecting the confidentiality, security, and integrity of nonpublic personal information about consumers (whether or not they are customers). The GLBA is a federal law that became effective in the United States In 1999. The GLBA is also known as the Financial Services Modernization Act of 1999.
Three key rules of the GLBA include:
· Privacy Rule: Ensuring the protection of consumers‘ personal financial information.
· Safeguards Rule: Requiring the establishment of security measures to prevent data breaches.
· Pretexting Provisions: Prohibiting deceptive methods of obtaining personal financial information.
What is the difference between SOX and GLBA?
The primary difference between each set of compliance regulations is that they are all focused on protecting a different type of data. HIPAA protects a patient‘s healthcare information, SOX protects financial information of public companies, and GLBA protects the data of financial institution customers.
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