GLBA affects a wide range of financial institutions such as banks, thrifts, credit unions, and insurance firms as well as any firm engaged in activities including:
- Mortgage Lending
- Credit Card Activities
- Securities Brokerage Activities (Including Dealers and Advisors)
- Insurance Sales (Underwriters and Agents)
- Tax Planning and Preparation Services
- Investment Advice
A wide range of non-public personal information and personally identifiable financial information is subject to the privacy controls of GLBA.
IBackup answers security concerns by always keeping backed up data encrypted and immediately available. Detailed reporting gives regulators a clear idea of the chain of custody of the stored information, and rapid access, should it be required.
- Data is encrypted before transmission and is always maintained in encrypted state.
- Access is restricted by password authentication. Access to data is date and time-stamped by user.
Data will remain housed in the IBackup customer storage areas for as long as the client retains it. IBackup does not have access to the contents of the data files stored, so it is up to the client to maintain the data in a manner that is compliant with GLBA.
Note: Many of the compliance items require usage of the optional private encryption key that is known only to you and not stored on IBackup servers.