Final answer:
The GLBA and HIPAA both require organizations to protect personal information, provide privacy notices, conduct risk assessments, enforce access controls, and have a response plan for security breaches.
Step-by-step explanation:
The Gramm-Leach-Bliley Act (GLBA) and the Health Insurance Portability and Accountability Act (HIPAA) are both US federal laws that include provisions designed to protect sensitive information. Despite their focus on different industries, they share common elements in their security rules:
- Both require organizations to maintain safeguard measures to protect personal information from unauthorized access or use.
- Each act mandates the entities to provide a privacy notice explaining their information-sharing practices to individuals.
- GLBA and HIPAA call for ongoing risk assessment and management to continuously address potential vulnerabilities and ensure data security.
- They establish clearance procedures and access controls to ensure only authorized individuals can access sensitive information.
- Both laws require a response plan for potential security breaches, including notification procedures to affected individuals.