GLBA Financial Compliance

 

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GLBA Financial Compliance is Important. Security7 Networks can Help

Keep your customers' financial data safe from cyber-attack. With Security7 Networks & e-Armor we’ll make sure you stay safe and ensure you comply.

Why is GLBA, FFIEC and NCUA Compliance so crucial for the financial industry?

The financial industry regularly collects personal Identifiable Information (PII). Checking Accounts create PII data. Loan Applications create PII data. Even buying an Insurance Policy creates PII data. You get the point.

The Gramm-Leach-Bliley Act, Federal Financial Institutions Examination Council, and National Credit Union Administration compliance standards require that all PII data is kept safe and that each financial institution have a written IT security policy.

Fines and punishments for violating the standards can range from $100,000 per violation (GLBA) to being barred permanently from ever working for financial institution again (NCUA).

How Security7 Networks can help the Financial Industry stay compliant:

Your organization needs a to develop a written corporate IT security policy that defines how IT assets are to be protected, expected employee behaviors, and the consequences of violations. 
Doing that will help you safeguard your PII data,

The experts at Security7 Networks can help you do that. There are seven critical steps we take to help ensure you are PII Compliant at all times. They are:

  1. Audit
  2. Prepare
  3. Analyze
  4. Implement
  5. Identify
  6. Remediate
  7. Report/Respond

The first step in the process is to perform an audit. Security7 uses a trusted 3rd party auditing firm to analyze your IT assets and business processes. The 3rd party's primary job is to examine your environment and locate toxic data collection points.

As the audit is underway, Security7’s experts will use established compliance standards to prepare a response plan for you. After the audit results are in and the response plan created, we’ll analyze the results to discover any potential problems that may already exist and prioritize remediation based on risk.

Our experts will implement controls and solutions developed specifically to keep you compliant. After implementation, we’ll give the solution another pass to identify any risks or problems that may have arisen, and we’ll remediate them.

Finally, you’ll be able to generate reports and respond to compliance-related inquiries and demonstrate that you are up to date with current compliance standards.