|
|
|
GLB Act and Co-Mail
|
The Financial Modernization Act of 1999, also known as the "Gramm-Leach-Bliley Act" or GLB Act, includes provisions to protect consumers' personal financial information held by "financial institutions".
"Financial institutions" include banks, securities firms, insurance companies, and companies providing other types of financial products and services.
The GLB Act governs the collection and disclosure of customers' personal financial information by financial institutions. It also applies to companies, whether or not they are financial institutions, who receive such information. Financial entities should follow administrative, technical, and physical safeguards to ensure the security and confidentiality of customer records and information, to protect against any anticipated threats or hazards to the security or integrity of such records, to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.
The pretexting provisions of the GLB Act are to protect consumers from individuals and companies that obtain their personal financial information under false pretences, a practice known as "pretexting".
Co-Mail, a secure e-mail system, is an appropriate instrument that meets GLB Act provisions.
Co-Mail provides military level security and confidentiality for customer electronic records and information. It also protects against threats or hazards to the integrity of such records, and secures records and information from unauthorized access.
Protection is automatic and has three main levels:
- PGP. The message is encrypted with a randomly generated 128-bit session key which in turn is encrypted with the addressee's 2048-bit key.
- Electronic digital signature - DSA. The signature verification key is 1024 bits. Verification of electronic signature guarantees the integrity of a letter and the authenticity of a return address.
- SSL. The message travels along a secure channel where it is additionally encrypted. The length of the encryption key is up to 1024 bits.
In these ways, all letters and attached files are encrypted and decrypted on a user's PC and are protected while being sent and stored.
It allows Co-Mail to be used to meet GLB Act provisions.
|
|
