IRPC F & A 031516

GRAMM-LEACH-BLILEY ACT (GLB-ACT)/RED FLAGS RULES • AKA The Financial Modernization Act of 1999 • Created in 1999, The GLB-Act protects the security and confidentiality of a consumer’s personal financial records held by financial institutions • GLB-Act include the Safeguards Rule: financial institutions must implement security programs • Red Flags Rules requires organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs – or red flags – of identity theft in their day-to-day operations

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