The Gramm-Leach-Bliley Act (GLBA), also known as the U.S. Financial Modernization Act, regulates the protection of consumer personal information held by financial institutions.
The law provides consumers with limited control over how their personal data is used and shared by these institutions, and GLBA compliance entails companies establishing safeguards that ensure the security and confidentiality of customer records.
Organizations can receive fines of up to $100,000 per incident and fines for officers and directors of $10,000 per person, if found to not be in compliance.
For enhanced protection, Gemalto offers Gemalto Hardware Security Modules (HSMs) to protect sensitive cryptographic keys. SafeNet HSMs are used by the world’s largest financial institutions, specifically designed to protect financial transactions.
New threats, risks, and vulnerabilities as well as evolving business requirements underscore to the need for a strong authentication approach based on simple service delivery, choice, and future-forward scalability. Gemalto delivers multi-factor authentication and authorization capabilities that ensure only authorized access to critical data.
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