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The Gramm-Leach-Bliley Act (GLBA), also referred to as the Financial Services Modernization Act of 1999, establishes guidelines for the handling of nonpublic personal information about consumers by financial institutions. GLBA applies to all organizations, no matter the size, that are “significantly engaged” in providing financial products or services to consumers. The penalties for non-compliance are severe, including fines and imprisonment. Organizations can be fined up to $100,000 for each violation, and directors can be fined up to $10,000 for each violation.
Compass IT Compliance can perform a risk assessment of your organization’s GLBA program as compared to the inter-agency guidelines which establish information disclosure and safeguarding standards surrounding nonpublic personal information. A Compass GLBA risk assessment will evaluate the following areas:
Let Compass IT Compliance assist your organization in assessing any risks present through our GLBA Risk Assessment so you can secure your customer data environment, comply with regulatory compliance requirements, and save time, money, and resources in the process. Contact Us today to discuss your unique situation. Secure. Comply. Save.