The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act, is a deregulation bill meant to enhance competition in the financial services industry – but a major section of the law governs the collection, disclosure, and protection of personal information belonging to consumers.
Money Isn't Everything
GLBA brought sweeping deregulation to banks, but introduced new security and privacy provisions designed to protect the "nonpublic" personal information of customers. With a broad portfolio of solutions, Trustwave can help you get up to speed on and respond to the requirements.
GLBA: Fast Facts and Consequences
- The notable elements of the law are the Safeguards Rule, Privacy Rule and Pretexting Protections.
- The Safeguards Rule seeks to ensure the security and confidentiality of customer records and information, while the Privacy Rule requires customers are provided with a notice of privacy policies and practices and the ability to opt out.
- The law also bars pretexting, which involves individuals lying to gain access to sensitive data.
- Several federal and state agencies are responsible for enforcement of GLBA, depending on whom the alleged violator is. Fines could reach $100,000 per violation.
The Best of Both Worlds: Blending Best Practices with New Security Protocols
Cybersecurity is an ever-evolving discipline. Attacks change, technologies come and go, processes adjust, new compliance mandates are regulated, and people are there to hold it all together. But none of this is new, and not likely to change much. It’s the way of life for today’s security organizations.
Tailored for Your Organization
Our compliance assessment involves various policies, procedures and practices which we evaluate through documentation review, interviews, facilities inspection, controls assessment and examination of your current security architecture.
Extensive and Experienced Support
Our team of seasoned compliance support analysts are available 24x7x365 to aid financial institutions, which are heavily targeted by attackers and can be stretched to the limit as a result.
Security Portfolio Enables Compliance
If your security stance is mature, compliance to GLBA will be a natural byproduct. Our suite of security products and managed services helps protect critical assets and combat advanced threats.
Supported by Industry-Leading Threat Intelligence
The elite Trustwave SpiderLabs team team and federated global network of security operations centers produce unique threat intelligence that helps us prevent, monitor and respond to your security events.
Through a comprehensive portfolio designed to respond to modern-day security and privacy needs, Trustwave helps financial institutions ensure compliance with GLBA requirements.
Managed Security Services
Reduce risk with managed security services that evolve processes, elevate data protection strategies and advance the way you monitor for, detect and respond to threats.
Managed Security Testing
Receive on-demand, precision-based penetration testing with just a few clicks of a mouse. With a subscription, you can log in to the portal and schedule testing of vulnerabilities in databases, networks and applications.
Enterprise-Grade Data Security
Identify security lapses and ensure your information repositories stay protected from internal gaffes and nefarious attackers, while maintaining compliance with GLBA.
Incident Readiness and Response
Prepare for and react to security incidents and breaches with the help of our SpiderLabs team, who identifies root causes of incidents and communicates responses in a way your team and management can understand.