Final answer:
The Gramm-Leach-Bliley Privacy Act of 1999 does not require pretexting to find out private financial information; it mandates financial institutions to protect this information and prohibits pretexting.
Step-by-step explanation:
The statement that the Gramm-Leach-Bliley Privacy Act of 1999 requires pretexting to find out private financial information is false.
Pretexting is actually an illegal practice where an individual lies or uses a false pretext to obtain personal financial information from financial institutions or consumers.
The Act, also known as the Financial Services Modernization Act of 1999, primarily aims to protect consumers' personal financial information. It requires financial institutions to explain their information-sharing practices to consumers and to safeguard sensitive data.