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The Gramm-Leach-Bliley Act:Question 12 options:A) outlines medical security and privacy rules.B) requires financial institutions to ensure the security of customer data.C) identifies computer abuse as a crime and defines abusive activities.D) specifies best practices in information systems security and control.E) imposes responsibility on companies and management to safeguard the accuracy of financial information.

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Answer: (B.)

The Gramm-Leach-Bliley Act requires financial institutions to ensure the security of customer data.

Explanation:

The Gramm-Leach-Bliley Act is also called the Financial Modernization Act of 1999. It is a Federal law that requires financial institutions to let their customers know how the private data they provide is protected or shared. It also requires the financial institutions to ensure their customers are aware, they have the option to opt out if they do not want their data shared with third parties.

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