Which act requires financial institutions to ensure the security and confidentiality of customer data and mandates that data must be stored on a secure medium and protected during storage and transmittal?.

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09-11-2022
Social Studies

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Which act requires financial institutions to ensure the security and confidentiality of customer data and mandates that data must be stored on a secure medium and protected during storage and transmittal?.

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PratikshaS PratikshaS · Answer 1 · 2022-11-11T16:52:18+01:00

Gramm-Leach-Bliley Act requires financial institutions to ensure the security and confidentiality of customer data and mandates that data must be stored on a secure medium and protected during storage and transmittal.

Financial institutions, or businesses that provide consumers with financial products or services like loans, financial or investment advice, or insurance, are required by the Gramm-Leach-Bliley Act to disclose to their clients how they share customer information and to protect sensitive information.

The GLBA mandates a number of affirmative actions from businesses that meet the definition of "financial institutions" in order to stop the unauthorized collection, use, and disclosure of NPI. These requirements are imposed by it under two "Rules": I the Safeguards Rule and (ii) the Privacy Rule.

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Which act requires financial institutions to ensure the security and confidentiality of customer data and mandates that data must be stored on a secure medium and protected during storage and​ transmittal?.

Respuesta :

Otras preguntas

Which act requires financial institutions to ensure the security and confidentiality of customer data and mandates that data must be stored on a secure medium and protected during storage and transmittal?.