GLBA
U.S. law for financial privacy notices and safeguards
SAMA CSF
Saudi framework for financial sector cybersecurity
Quick Verdict
GLBA mandates US financial privacy notices and safeguards for NPI protection, while SAMA CSF requires Saudi banks' cyber maturity via governance and controls. Organizations adopt GLBA for FTC compliance, SAMA CSF for regulatory audits and resilience.
GLBA
Gramm-Leach-Bliley Act (GLBA)
Key Features
- Mandates privacy notices and opt-out for nonaffiliated sharing
- Requires written risk-based information security program
- Designates Qualified Individual with board reporting
- Imposes 30-day FTC breach notification for 500+ consumers
- Broadly covers non-bank financial institutions
SAMA CSF
Saudi Arabian Monetary Authority Cyber Security Framework
Key Features
- Six-level maturity model with Level 3 baseline
- Four domains including third-party security
- Principle-based risk management approach
- Board-level governance and CISO mandate
- Self-assessment and SAMA audit requirements
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
GLBA Details
What It Is
Gramm-Leach-Bliley Act (GLBA) is a U.S. federal regulation enacted in 1999. It establishes privacy and security standards for financial institutions handling nonpublic personal information (NPI). Primary purpose: protect consumer financial data through transparency and safeguards. Adopts a risk-based approach via Privacy Rule and Safeguards Rule.
Key Components
- **Privacy RuleInitial/annual notices, opt-out for nonaffiliated sharing.
- **Safeguards RuleWritten security program with 9+ elements (risk assessment, Qualified Individual, testing, vendor oversight).
- **Pretexting provisionsAnti-social engineering protections. Built on administrative, technical, physical safeguards; enforced by FTC for non-banks; no formal certification, compliance via audits/enforcement.
Why Organizations Use It
Mandated for financial institutions (broad scope: banks, tax firms, auto dealers). Mitigates fines ($100K/violation), breaches, reputational harm. Enhances trust, operational resilience, vendor management; strategic for embedded finance.
Implementation Overview
Phased: scoping, risk assessment, controls (encryption, MFA), training, testing. Applies to U.S. financial entities by activity; small firms (<5K customers) have exemptions. Requires ongoing audits, board reporting, breach notification.
SAMA CSF Details
What It Is
SAMA CSF (Saudi Arabian Monetary Authority Cyber Security Framework, Version 1.0, May 2017) is a mandatory regulatory framework for SAMA-regulated financial institutions in Saudi Arabia. Its primary purpose is to ensure cybersecurity resilience through governance, risk management, and controls, protecting confidentiality, integrity, and availability of information assets. It employs a principle-based, risk-oriented approach with a maturity model.
Key Components
- Four main domains: Leadership & Governance, Risk Management & Compliance, Operations & Technology, Third-Party Security.
- Numerous subdomains with principles, objectives, and control considerations (114+ subcontrols).
- Built on NIST, ISO 27001, PCI-DSS; six-level maturity model (Level 3 minimum: structured policies, standards, procedures).
- Compliance via self-assessment and SAMA audits.
Why Organizations Use It
- Mandatory for banks, insurers, finance firms to avoid penalties, audits.
- Enhances resilience, reduces incidents; strategic edge in partnerships.
- Builds trust, efficiency; aligns with Vision 2030 digital goals.
Implementation Overview
- Phased: gap analysis, risk assessment, deployment, monitoring.
- Targets financial sector; scalable by size; requires board oversight, CISO, evidence collection.
Key Differences
| Aspect | GLBA | SAMA CSF |
|---|---|---|
| Scope | Privacy notices, safeguards, pretexting for NPI | Governance, risk mgmt, ops/tech, third-party cyber |
| Industry | US financial institutions (broad non-banks) | Saudi financial sector (banks, insurance, fintech) |
| Nature | Mandatory US federal regulation with FTC enforcement | Mandatory framework with maturity levels, SAMA audits |
| Testing | Penetration testing, vulnerability assessments annually | Periodic self-assessments, audits, maturity model reviews |
| Penalties | $100K per violation, criminal up to 5 years | Fines, supervisory actions, license risks (implied) |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about GLBA and SAMA CSF
GLBA FAQ
SAMA CSF FAQ
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