Final answer:
The 'pretexting provision' in the Gramm-Leach-Bliley Act outlaws the act of obtaining personal information under false pretenses, typically enacted to prevent fraud and protect consumer data.
Step-by-step explanation:
The “pretexting provision” under the Gramm-Leach-Bliley Act refers to the part of the law that prohibits the practice of pretexting, which is the act of obtaining another person's personal information under false pretenses. This is often done by individuals or companies who attempt to gain access to confidential information such as bank records, phone records, or other sensitive personal data, by pretending to be the individual in question or by creating a false scenario that necessitates accessing that information. The Gramm-Leach-Bliley Act specifically targets financial institutions, mandating them to protect customer information and penalizing those who engage in pretexting.
For example, a person committing pretexting might call a bank pretending to be a customer and ask for account details by providing false identification or made-up answers to security questions. Such activities are illegal under the Act, and it provides a framework for protecting consumers against fraud and identity theft.