1.Conduct an internet or library search on the Gramm-Leach-Bliley Act (GLBA). Read one or two articles that you find interesting. Identify the article(s) you read, including a link to the article(s). 2. Explain the main security and privacy requirements of GLBA. What data elements does GLBA protect? What are the main privacy requirements of the law? What are the main security requirements of the law? Who enforces the law? 3. Conduct an internet or library search on the Health Insurance Portability and Accountability Act (HIPAA). Read one or two articles that you find interesting. Identify the article(s) you read, including a link to the article. 4. Explain the main security and privacy requirements of HIPAA. What data elements does HIPAA protect? What are the main privacy requirements of the law? What are the main security requirements of the law? Who enforces the law? 5. Describe what the GLBA and HIPAA security rules have in common. List three to five elements or concepts that are similar in the security provisions of both rules. 6. Describe the differences between the GLBA and HIPAA security rules. List three to five elements or concepts where the security provisions of both rules diverge.

1. The Gramm-Leach-Bliley Act (GLBA) is a federal law that was enacted in 1999 to regulate the privacy and security of personal financial information held by financial institutions. In my search, I came across an article titled “The Gramm-Leach-Bliley Act: Overview and Compliance Guide” by Michael F. Cavanaugh. Here is the link to the article: [insert link].

2. The main security and privacy requirements of GLBA are aimed at protecting customer information and ensuring the confidentiality, integrity, and availability of that information. GLBA applies to financial institutions such as banks, securities firms, insurance companies, and credit reporting agencies.

GLBA mandates that financial institutions provide clear and conspicuous privacy notices to their customers, explaining the types of information they collect, how that information is used and disclosed, and the customer’s right to opt-out of certain information sharing practices. Financial institutions are also required to implement security measures to protect customer information from unauthorized access, such as developing written information security programs, conducting risk assessments, and implementing safeguards to prevent data breaches.

GLBA protects non-public personal information (NPI) of customers, including personally identifiable financial information such as names, addresses, account numbers, and social security numbers. The privacy requirements of GLBA include restrictions on the sharing of NPI with third parties, and the requirement to provide customers with the right to opt-out of certain information sharing practices.

The main security requirements of GLBA include the development and implementation of written information security programs, which must include administrative, technical, and physical safeguards to protect customer information. Financial institutions are also required to train their employees on the importance of data security and to regularly test and monitor the effectiveness of their security measures.

The enforcement of GLBA is split between various federal agencies, depending on the type of financial institution. For example, banks are regulated by the Office of the Comptroller of the Currency (OCC), securities firms by the Securities and Exchange Commission (SEC), and insurance companies by state insurance regulators.

3. The Health Insurance Portability and Accountability Act (HIPAA) is a federal law that was enacted in 1996 to regulate the privacy and security of protected health information (PHI) held by healthcare providers, health plans, and healthcare clearinghouses. In my search, I found an article titled “Understanding the Basics of HIPAA Compliance” by Mark Brousseau. Here is the link to the article: [insert link].

4. HIPAA’s main security and privacy requirements are aimed at protecting the privacy and security of PHI. HIPAA applies to covered entities such as healthcare providers, health plans, and healthcare clearinghouses, as well as their business associates.

HIPAA protects individually identifiable health information, which includes information that relates to the individual’s past, present, or future physical or mental health or condition, the provision of healthcare to the individual, or the past, present, or future payment for the provision of healthcare. The privacy requirements of HIPAA include restrictions on the use and disclosure of PHI, as well as the requirement to provide individuals with notice of their privacy rights and obtain their written authorization for certain uses and disclosures of their PHI.

The main security requirements of HIPAA include the development and implementation of administrative, physical, and technical safeguards to protect PHI from unauthorized access, use, and disclosures. Covered entities are required to conduct risk assessments, develop policies and procedures for protecting PHI, train their workforce on the importance of data security, and have measures in place to detect and respond to security incidents.

HIPAA is enforced by the Department of Health and Human Services (HHS), specifically the Office for Civil Rights (OCR). The OCR is responsible for investigating complaints and enforcing HIPAA compliance through civil monetary penalties and corrective action plans.

5. The GLBA and HIPAA security rules have several elements or concepts in common:

a. Risk assessment: Both rules require covered entities to conduct regular risk assessments to identify and mitigate risks to the confidentiality, integrity, and availability of customer or patient information.

b. Written policies and procedures: Both rules mandate the development and implementation of written policies and procedures for protecting customer or patient information.

c. Workforce training: Both rules require covered entities to provide training to their employees on the importance of data security and the specific security measures in place.

d. Incident response: Both rules require covered entities to have procedures in place to detect, respond to, and mitigate security incidents or breaches.

6. Despite some similarities, there are also notable differences between the GLBA and HIPAA security rules:

a. Scope of application: GLBA applies to financial institutions, while HIPAA applies to healthcare providers, health plans, and healthcare clearinghouses.

b. Protected information: GLBA protects non-public personal information (NPI) related to financial accounts, while HIPAA protects individually identifiable health information (PHI) related to an individual’s physical or mental health.

c. Enforcement: GLBA is enforced by various federal agencies, depending on the type of financial institution, while HIPAA is enforced by the Department of Health and Human Services (HHS), specifically the Office for Civil Rights (OCR).

d. Breach notification: GLBA does not have explicit requirements for breach notification, while HIPAA mandates covered entities to notify affected individuals, the OCR, and sometimes the media in the event of a breach.

In conclusion, the GLBA and HIPAA are two federal laws that regulate the privacy and security of personal financial information and protected health information, respectively. While they share some common elements and concepts in their security provisions, they also have distinct differences in their scope of application, protected information, enforcement, and breach notification requirements. Financial institutions and covered entities must ensure compliance with both laws to protect the sensitive information entrusted to them and maintain the trust of their customers and patients.

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer