Regulation: The Gramm-Leach-Bliley Act
Abbreviation: GLBA
Governs these parties: all businesses that are significantly engaged
in providing financial products or services
Enforced by: the Federal trade commission (FTC)
The Gramm-Leach-Bliley Act requires financial institutions to establish appropriate standards and take several affirmative steps related to the administrative, technical, and physical safeguards of customer records and information of nonpublic personal information (NPI).
With the GLBA, a consumer privacy notice must explain what NPI the financial institution collects, how that NPI gets used and shared, and how it gets protected. Crucially, the consumer privacy notice must also provide instructions for how consumers can opt-out of having their NPI shared with unaffiliated third parties.
The rest of this document is designed to help our community understand GLBA better by outlining the following information:
How it relates to cybersecurity
The GLBA data protection rule states that financial institutions must:
- ensure the security and confidentiality of customer data
- protect against any reasonably anticipated threats or hazards to the security or integrity of such data
- protect against unauthorized access to, or use of, such data that would result in substantial harm or inconvenience to any customer
Financial institutions should also employ encryption to mitigate the risk of disclosure or alteration of sensitive information in storage and transit. Encryption implementations should include:
- sufficient encryption strength to protect the information from disclosure until such time as disclosure poses no material risk
- effective key management practices
- robust reliability
- appropriate protection of the encrypted communication endpoints
How Coro handles compliance for you
At Coro, we've done the research thoroughly and regularly track updates to the regulation in order to ensure that you are implementing best practices in the areas we cover when we're protecting your systems.
The following table outlines the requirements described by GLBA that Coro implements in conjunction with Microsoft 365 or Google Workspace.
Disclaimer: this table does not guarantee that your organization is compliant with these regulations. As a best practice, seek assistance from a certified auditor when completing your analysis.
|
Category |
Requirement |
How Coro does it |
|
Cloud Security & Privacy
|
Malware and ransomware injection |
Detects and remediates malware and ransomware files in cloud drives |
|
Cloud app account takeover |
Monitors access to cloud apps and user/admin activities on them |
|
|
Multi-Factor Authentication (MFA) |
Enforces multi-factor authentication on cloud app access |
|
|
Data governance over cloud drives |
Data loss prevention (DLP) for regulatory and business-sensitive data |
|
|
Data encryption |
Safeguards stored sensitive information against unauthorized use and leakage |
|
|
Audit and activity logs |
Archives all system activities for a period of seven years, supporting referencing and auditing |
|
|
Email Security & Privacy
|
Generic and spear phishing |
Detects and remediates social engineering attacks based on email content analysis |
|
Identity spoofing |
Detects and remediates social engineering attacks based on adaptive identity monitoring |
|
|
Malware and ransomware injection |
Detects and remediates malware and ransomware in email attachments |
|
|
Embedded links to malicious URLs |
Detects and remediates embedded links to malicious servers |
|
|
Email account takeover |
Detects and remediates email attacks from within the organization |
|
|
DLP over outgoing/incoming email |
Encrypts emails before they are sent, which are then decrypted by their recipients at the other end. |
|
|
Encryption of email during transmission |
Encrypts email during transit between the sender and the recipient |
|
|
Business email compromise (BEC) |
Scans business email, detects and protects against social engineering attacks |
|
|
Audit and activity logs |
Archives all system activities for a period of seven years, supporting referencing and auditing |
|
|
Endpoint Security & Privacy
|
Antivirus (AV) |
Detects and remediates files with high-risk content based on their signatures |
|
ATP (NGAV) |
Detects and remediates processes exhibiting high-risk behaviors with behavioral analysis |
|
|
Device security posture |
Detects security vulnerabilities on endpoint devices and enforces device security posture |
|
|
Data recovery |
Stores local snapshots of data |
|
|
EDR |
Enables post-breach analysis of endpoint activities across the organization |
|
|
DLP on endpoint devices |
Provides data loss prevention (DLP) for business-sensitive data and data defined as sensitive by regulations |
|
|
Audit and activity logs |
Archives all system activities for a period of seven years, supporting referencing and auditing |
|
|
Data Governance
|
Data distribution governance and role management |
Provides data loss prevention (DLP) for data defined as sensitive by regulations |
|
Security and business-specific data monitoring |
Monitors for sensitive data according to business and security best practices, including passwords, certificates, source code, proprietary data, etc. |
|
|
PHI monitoring |
Monitors PHI (also: personal health information) that healthcare professionals collect to identify an individual and determine appropriate care |
|
|
NPI monitoring |
Monitors NPI (also: nonpublic personal information) that financial service professionals collect to identify an individual |
|
|
Audit and activity logs |
Archives all system activities for a period of seven years, supporting referencing and auditing |