GLBA Compliance with Data-Centric Security

Whether you’re in the finance industry or have a finance role, you’re well aware of the challenges with the Gramm-Leach-Bliley Act (GLBA). This regulatory framework emphasizes transparency in how companies use and protect data. Thus, GLBA compliance directly aligns with data-centric security.

If you’ve hit roadblocks in simplifying and streamlining compliance with GLBA, keep reading for tips and practical advice.

GLBA requires written and auditable processes, covering privacy, access controls, and data security. We’re going to focus on the data layer.

In 16 CFR Part 314.4(c), the law states that organizations must implement encryption for customer information at rest and in transit unless it’s infeasible or there are compensating controls in place.

What’s important to consider in this dynamic is how encryption works.

Traditional, disk-level encryption only protects data at rest, so it doesn’t support this requirement to secure data throughout its entire lifecycle. Security teams lose visibility as data moves and must rely on end-users to securely share data. Plus, there is no protection if there is a system breach.

In comparison, data-centric, file-level encryption provides comprehensive protection even as you use or share files, even if a hard drive breach occurs. This approach to encryption meets GLBA requirements.

Traditional encryption is at the folder or disk level, so encryption only works while data is at rest, and there is no control over data after it moves.

Persistent encryption works at the file level, which means it stays with the file, allowing access for authorized users. You can also remove policies and access permissions after you’ve sent files externally.

In addition to data encryption being persistent, other attributes make encryption modern.

Frictionless Encryption

Another issue with standard encryption is the impact on productivity. The data requiring protection under GLBA is necessary for users to do their job, and traditional encryption can break workflows and impact users. Modern encryption doesn’t slow down business operations.

It automatically secures files while ensuring access for authorized users. It’s a policy-based approach that doesn’t require managing a separate key infrastructure and issuing, tracking, and managing certificates. This streamlines data security enterprise-wide and reduces overhead and costs.

Centralizing for Consistency

You may also be facing inconsistent encryption policies across the organization. This is often due to reliance on user behavior. Centralizing enforcement with GLBA compliance software helps eliminate this variability and standardizes protection with minimal effort.

GLBA Compliance at Scale

The more financial data you have, the more files require protection. Not all encryption platforms can keep pace with this volume in complex enterprise environments. Scalability is a critical component to evaluate when comparing options. For example, FISERV leverages a modern approach to encrypt over 1 million files daily without issue.

Auditability and Visibility

Do your compliance teams spend too much time gathering evidence manually for audits? You can eliminate this with a solution that offers comprehensive audit logs. These logs can also be vital to early detection of anomalies, including failed decryption events or unusually high numbers of decryption activities.

GLBA is a standalone law. However, its mandates overlap with other regulations you must abide by, including PCI DSS and HIPAA. Each includes requirements for data encryption. Instead of managing them via multiple systems, you can achieve compliance with one platform.

Simply meeting compliance mandates doesn’t mean you’ve reduced risk. You can adhere to GLBA with legacy encryption, but you’ll fall short of creating a truly data-centric security culture.

Do more than the minimum with GLBA compliance software with modern, persistent encryption of data at rest and in transit. It’s a central capability of PK Protect, an enterprise data protection solution designed for simplified security and compliance. See why so many financial companies and leaders trust it.