Regulatory Compliance

GLBA

For Assessing GLBA Compliance

The Financial Modernization Act of 1999, also known as the “Gramm-Leach-Bliley Act” or GLB Act, includes provisions to protect consumers’ personal financial information held by financial institutions. There are three principal parts to the privacy requirements: the Financial Privacy Rule, Safeguards Rule and pretexting provisions.

The GLBA’s privacy protections only regulate financial institutions-businesses that are engaged in banking, insuring, stocks and bonds, financial advice, and investing.

These financial institutions, whether they wish to disclose customer’s personal information or not, must develop precautions to ensure the security and confidentiality of customer records and information, to protect against any anticipated threats or hazards to the security or integrity of such records, and to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.

Financial institutions are also required to provide customers with a notice of their information sharing policies when you first become a customer, and annually thereafter.

Most organizations have focused on protecting their networks and desktops. However, one of the biggest challenges for companies is to protect their applications which have been paid the least amount of attention to address compliance issues. Specifically, web applications have become the weakest link for companies. Hackers find it easy to come through the web sites like any other user would and using some tools are and techniques exploit the vulnerabilities to steal customer information.

Cenzic is committed to assist financial organizations in complying with government regulations and the GLB Act. From the ground up, Cenzic Hailstorm has been designed to emulate a hacker and find the vulnerabilities so companies can protect their applications and avoid being non-compliant with GLBA. Cenzic’s CIA Research team has combed through GLBA and distilled out the core web application compliance issues that you needed to check for on your applications. The Cenzic Policy library includes the required GLBA compliance policies required to assess your application for readiness.

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