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GLBA, also known as the Financial Services Modernization Act of 1999, includes provisions to protect consumers’ personal financial information held by financial institutions. In addition, the GLBA protects consumers from individuals and companies that obtain their personal financial information under false pretenses, a practice known as "pretexting." This law applies to financial institutions such as banks, securities firms, and insurance companies as well as to companies providing financial products or services to consumers. SOX’s stated purpose is “to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the security laws, and for other purposes.” Written specifically to address the issues that cropped up during the Enron, WorldCom, and Arthur Anderson fiascos, SOX makes corporations accountable to customers by aiming to prevent corporate mismanagement. Since only 37% of companies reported that they have a security strategy in place despite widespread phishing scams, corporate espionage, and identity theft, SOX is crucial in maintaining corporate and customer security (State of Information Security 2005). 8e6 helps financial institutions comply with GLBA and SOX by enabling corporate AUP to limit user access to non-public corporate and customer data.
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