To be compliant with the Gramm-Leach-Bliley Act (GLBA), financial institutions must communicate to their customers how they share their sensitive information, inform customers of their right to opt-out if they prefer that their personal data not be shared with third parties, and apply specific protections to customers’ private data according to a written information security plan created by the institution.
Many organizations such as check cashing businesses, mortgage brokers, real estate appraisers, professional tax preparers and other businesses are surprised to learn that they qualify as financial institutions under GLBA. These businesses are significantly involved in providing financial products and services, so they must disclose to their customers how they share and protect private information.
Does your organization have the internal controls in place to protect consumers’ personal financial information? Passing a GLBA risk assessment requires showing proof and the actual presence of controls that are mandated by the requirements.
Skoda Minotti Risk Advisory Services focus on developing a practical approach to GLBA compliance to help you efficiently and effectively manage customer privacy. Our experienced professionals guide you through the process, beginning with an initial information security review. We identify risks, prioritize controls and implement an information security program that adheres to GLBA requirements.
Our trained advisors provide a full complement of information security services to ensure your organization can pass a GLBA assessment. Your integrity depends on maintaining the trust of your customers, so we help design a program that protects private information.
For more information about GLBA Compliance at Skoda Minotti, please complete the form below or call Joseph Compton at 440-449-6800.