Gramm-Leach Bliley Act

The Gramm-Leach Bliley Act includes laws that govern the collection and disclosure of customers’ personal financial information by financial institutions and requires all financial institutions to design, implement and maintain safeguards to protect customer information.

The Financial Privacy Rule requires financial institutions to provide each consumer with a privacy notice at the time the consumer relationship is established and annually thereafter. The privacy notice must explain the information collected about the consumer, where that information is shared, how that information is used, and how that information is protected.

The Safeguards Rule requires financial institutions to develop a written information security plan that describes how the company is prepared for, and plans to continue to protect clients’ nonpublic personal information.

The Gramm-Leach Bliley Act requires IT attention because they need to account for the security procedures in place regarding protecting consumer data. BOSaNOVA's Q3 storage encryption solution is a full proof way to protect consumer data. The Q3 storage security appliance encrypts data at rest without effecting your current backup procedures. Installation is quick and key management is strong yet simple.

 

For more information please contact us at 800-866-6267 or info@bosanova.net