An Electronic Eye Can Help Protect Your Private Financial Information New Carlisle OH

Posted by : Lucie Trepanier

Few things are more important to us than our finances, and few things are more private than information about our personal financial situation. The option to reveal or not reveal information about our financial health is a fundamental part of anyone’s right to privacy. Unfortunately, through accident or through malign intent, in today’s computerized and networked financial system, information about your finances is not safe.

Almost every day, somewhere in the United States, a news organization reports another chilling story about someone’s financial records, investments or accounts being compromised.

Last year, as a test, I was trying out one of the online file-sharing systems that many people use to download music. By searching for .xls files, I quickly and unintentionally located a spreadsheet with a private investor’s stock portfolio and other financial information -- it was unprotected. I deleted the file and notified the owner, but this one case provides an example of the ways in which financial information can fall into the wrong hands.

The Graham-Leach-Bliley Act (GLBA), passed by Congress in 1999, is an important step toward providing greater security and privacy for financial information. GLBA requires that financial services companies must take steps to secure the confidentiality of customer information; protect against hazards and threats to this information; and protect against unauthorized...

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