What is GLBA?
The Financial Modernization Act of 1999 a.k.a. Graham-Leach-Bliley Act of 1999 (GLBA) was signed into law on November 12th, 1999. GLBA was put into effect to protect consumers' financial private information. GLBA updated the practice and policies for individual consumers to control the use of their private information as well as the requirement to secure and protect such data from unauthorized use or access.

Who is affected by the GLBA?
The following is a partial list of firms, which are engaged in activities subject to GLBA:

Banks, Credit Unions, Insurance, Mortgage Lending, Credit Counseling, Tax Preparation and Planning, Securities and Brokerage Activities, Debt Collection, Check Cashing, Investment, Consumer Loan

The responsibility to protect consumers' financial information under GLBA does not end when your IT assets reach the end of their useful life.

What is HIPPA?
The Health Insurance Portability and Accountability Act of 1996 (HIPPA) was signed into law on August 21, 1996. This law includes important protections for millions of working Americans and their families who have preexisting medical conditions or might suffer discrimination in health coverage based on a factor that relates to an individual's health.

Identity Theft & Protected Information
HIPAA regulations protect medical records and other 'individually identifiable health information' (communicated electronically, on paper, or orally) that are created or received by covered health care entities that transmit information electronically.

The responsibility to protect patient health information under HIPPA does not end when your IT assets reach the end of their useful life.

Identity Theft and Assumption Deterrence Act of 1998
Identity theft has become a growing problem for individuals in recent years. Congress became involved with this growing problem in the 90's and intervened in 1998 with the passing of the Identity Theft and Assumption Deterrence Act. This law was passed to protect the individual consumer from the hardships and misfortune that follows an incident of identity theft. Though this law largely relates to individuals, companies doing business with and for those individuals play an important role in the prevention of identity theft.

Protected Information
Companies are gathering and maintaining more protected information about individual consumers than ever. From social security numbers to bank account information, personal health information to consumer credit information; companies are gathering and using this information everyday to perform their everyday business. Therefore, companies share in the same responsibilities as the individual consumer when it comes to protecting personal information. As computers used in these transactions reach the end of their useful lives, companies must be aware that this information is at risk if appropriate data erasure methods are not used during asset disposal.

The responsibility to protect patient health information under HIPPA does not end when your IT assets reach the end of their useful life.