GLBA

The Gramm-Leach-Bliley Act (GLBA) fundamentally changed the financial services industry by relaxing rules on consolidation within the industry. A key provision under the Act defined the privacy requirements that govern the collection and disclosure of customer personal financial information.

GLBA requires that a security management process exist in order to protect against attempted or successful unauthorized access, use, disclosure, modification, or interference of customer records.

The organization must be able to monitor, report, and alert on attempted or successful access to systems and applications that contain sensitive customer information.