Clear Blue Security addresses the heart of GLBA compliance, monitoring and safeguarding client’s nonpublic personal information (social security numbers, credit information, etc.).
It also supports periodic audits by generating reports and information to validate compliance to corporate policies and identify noncompliance issues prior to an audit.
The GLBA safeguard rules require all financial institutions to complete a risk analysis on the current processes and security practices. From the risk analysis, a written information security plan must include:
- Develop, monitor, and test a program to secure the information, and
- Change the safeguards as needed with the changes in how information is collected, stored, and used
Clear Blue Security is a comprehensive network security monitor that continuously detects and alerts vulnerabilities that could impact business continuity or result in data loss.
In a network where Clear Blue Security is running, the likelihood of detecting vulnerabilities is much higher, decreasing the risk of losing clients nonpublic personal information.
Who is required to comply with GLBA? All financial institutions are required to comply with GLBA.
The Federal Trade Commission (FTC) has jurisdiction over financial institutions similar to, and including, these:
- non-bank mortgage lenders
- loan brokers
- some financial or investment advisers
- debt collectors
- tax return preparers
- banks
- real estate settlement service providers
These companies must also be considered significantly engaged in the financial service or production that defines them as a “financial institution”.
Insurance has jurisdiction first by the state, provided the state law at minimum complies with the GLBA. State law can require greater compliance, but not less than what is otherwise required by the GLBA.
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