Gramm-Leach-Bliley

Make Sure
You're Compliant

Keep a peace of mind

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.
Mandatory

GLBA compliance is not voluntary; whether a financial institution discloses nonpublic information or not, there must be a policy in place to protect the information as well as a way to show data integrity.

Fines

A financial institution can be fined up to $100,000 for each violation. The officers and directors of the financial institution can be fined up to $10,000 for each violation.

Criminal Penalties

Criminal penalties include imprisonment for up to 5 years, a fine, or both.

Federal law

If the GLBA is violated at the same time that another federal law is violated, or involving more than $100,000 within a 12-month period, the violator's fine will be doubled and he or she will be imprisoned for up to 10 years.

HIPAA

Health Insurance Portability and Accountability Act (HIPAA) allows fines up to $250,000 and 10 years in prison for each violation of patient health information privacy rules

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Sarbanes-Oxley

A corporate officer who does not comply or submits an inaccurate certification is subject to a fine up to $1 million and ten years in prison, even if done mistakenly.

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Identity Theft

Penalties increased by two years for anyone who commits an "aggravated identity theft" in order to commit another serious Federal offense ex: Social Security fraud, government theft

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Gramm-Leach-Bliley

Under the GLBA financial institutions financial institutions can be fined up to $100,000 for each violation. The officers and directors of the financial institution can be fined up to $10,000 for each violation

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