Legislation and security will drive technology

    Date12 Jan 2004
    CategoryGovernment
    3437
    Posted ByAnthony Pell
    Similar to Gramm-Leach, the Health Insurance Portability and Accountability Act, or HIPAA, is designed to protect the privacy and confidentiality of patients and their medical records. Much as Gramm-Leach has made financial institutions assess the security of their customer data, HIPAA forces health-care organizations to evaluate the security of their patient data. . . . Another key legislative act impacting the financial services industry is the Financial Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act, which, at least in part, is concerned with protecting consumer data and privacy. Financial institutions must evaluate how securely they are storing customer data to ensure they are in compliance with Gramm-Leach.

    Similar to Gramm-Leach, the Health Insurance Portability and Accountability Act, or HIPAA, is designed to protect the privacy and confidentiality of patients and their medical records. Much as Gramm-Leach has made financial institutions assess the security of their customer data, HIPAA forces health-care organizations to evaluate the security of their patient data.

    Compliance with both Gramm-Leach and HIPAA will necessitate the use of strong cryptography and tight security whenever customer or patient data is being stored or transmitted over a network.

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