The Gramm-Leach-Bliley Act (GLBA) was created to protect confidentiality and security of customer information. Thus, under GLBA, organizations are required to inform regulators quickly if any unauthorized access or breach has occurred. Consider this scenario: A bank teller accesses a customer account out of curiosity. What is best course of action following this event?

The bank should notify the regulator based on the threshold set for the how many records can be subject to unauthorized access.

Explanation:

Gramm-Leach-Bliley Act is one that regulates how financial institutions protects customer data. Financial institutions are required to explain their information sharing process to customers.

If customers don't want their information to be shared they can opt out.

This Act also requires that financial institutions set a threshold where staff access customer accounts for non business reasons.

A limit is set for unauthorised access abive which the bank should notify the regulator.

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