GLBA
The Gramm-Leach-Bliley Act (GLBA)
The Gramm-Leach-Bliley Act (GLBA) 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.
GLBA Compliance
The Gramm-Leach-Bliley Act (GLBA) 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 Safeguards Rule for GLBA was implemented in 2003 and amended in 2021 and requires financial institutions to develop and implement a cybersecurity program that protects customer information. Section 314.4 of the Safeguards Rule identifies the elements that a financial institution must:
- Designate a Qualified Individual to implement and supervise your company’s information security program.
- Conduct a risk assessment
- Design and implement safeguards to control risks
- Continually monitor and test safeguard effectiveness
- Train Personnel
- Monitor service providers
- Continually review and update the security program
- Develop an Incident Response Plan
- Report to the Board of Directors, at least annually
Why GAI Cyber Solutions
GAI Compliance Solutions.
Vulnerability Scanning
Identify. Investigate. Remediate.