COMPUTER NETWORKS AND COMMUNICATIONS
NETWORK SECURITY AND CYBERSECURITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cover responsibilities of a public corporation’s board of directors, adds criminal penalties for certain misconduct
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provides data privacy and security provisions for safeguarding medical information
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control the ways that financial institutions deal with the private information of individuals
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an information security standard for organizations that handle branded credit cards from the major card schemes
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Detailed explanation-1: -The purpose of the GLB Act is to ensure that financial institutions and their affiliates safeguard the confidentiality of personally identifiable information (PII) gathered from customer records in paper, electronic or other forms.
Detailed explanation-2: -The Gramm-Leach-Bliley Act requires financial institutions – companies that offer consumers financial products or services like loans, financial or investment advice, or insurance – to explain their information-sharing practices to their customers and to safeguard sensitive data.
Detailed explanation-3: –Financial institutions must implement and maintain policies to ensure safety/confidentiality of customer information. Companies must have a policy in place that protects personal info of their customers including security breaches.
Detailed explanation-4: -The Gramm-Leach-Bliley Act (GLB Act or GLBA) is also known as the Financial Modernization Act of 1999. It is a United States federal law that requires financial institutions to explain how they share and protect their customers’ private information.