Cenzic Solutions for GLBA Compliance

Application Security to Meet Rigorous Regulatory Requirements

The Financial Modernization Act of 1999, also known as the “Gramm-Leach-Bliley Act” or GLB Act, includes provisions to protect consumers’ personal financial information held by financial institutions. There are three principal parts to the privacy requirements: the Financial Privacy Rule, Safeguards Rule and pretexting provisions.

The GLBA’s privacy protections only regulate financial institutions-businesses that are engaged in banking, insuring, stocks and bonds, financial advice, and investing.

These financial institutions, whether they wish to disclose customer’s personal information or not, must develop precautions to ensure the security and confidentiality of customer records and information, to protect against any anticipated threats or hazards to the security or integrity of such records, and to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.

Financial institutions are also required to provide customers with a notice of their information sharing policies when you first become a customer, and annually thereafter.

Most organizations have focused on protecting their networks and desktops. However, one of the biggest challenges for companies is to protect their applications which have been paid the least amount of attention to address compliance issues. Specifically, web applications have become the weakest link for companies. Hackers find it easy to come through the web sites like any other user would and using tools are and techniques exploit the vulnerabilities to steal customer information.

Cenzic’s application security solutions help financial institutions comply with GLBA data protection regulations, by allowing them to use automated processes to test for vulnerabilities in Cloud, Mobile and Web applications.  Cenzic assesses risk, checks for vulnerabilities as well as tests code and controls during software development for the purpose of preventing unauthorized access, destruction, use, modification or disclosure of personal information.  

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