Gramm-Leach-Bliley Act (GLBA)
The Financial Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act (GLBA) includes provisions to protect consumers’ personal financial information held by financial institutions. The principal parts of the GLBA are the Financial Privacy Rule and the Safeguards Rule. The Safeguards Rule issued by the Federal Trade Commission (FTC) is intended to establish standards for financial institutions to develop, implement, and maintain administrative, technical, and physical safeguards to protect security, confidentiality, and integrity of customer information.
With the SSH Tectia solution, financial institutions can prevent misuse and disclosure of private consumer data by implementing end-to-end transmission security for file transfers, financial applications, and remote administration. FIPS 140-2 validated strong encryption ensures confidentiality of sensitive financial data, while it is transferred in the enterprise network, offering protection against both external and internal security risks. Strong authentication of users mitigates the risk of unauthorized access to consumers’ financial information.
Centralized auditing of encrypted access to financial applications and server administration allows cost-effective and reliable control of data communications. Administrators can centrally monitor logs related to secured connections to enable effective maintenance and enforcement of end-to-end communications security. Additionally, all administrator access can be recorded for auditing purposes, to ensure full accountability of even users with administrator privileges.
