Cyberlaw Quiz 4

Which of the following was enacted by Congress in response to growth in identity theft crime? Selected Answer: Fair and Accurate Credit Transaction Act (FACTA) of 2003 Federal Trade Commission (FTC) Gramm-Leach-Bliley Act (GLBA) Federal Reserve System

Fair and Accurate Credit Transaction Act (FACTA) of 2003Fair and Accurate Credit Transaction Act (FACTA) of 2003

The mission of the _____________________is to protect consumers and to make sure that business is competitive by eliminating practices harmful to business. Federal Trade Commission (FTC) Federal Financial Institutions Examination Council (FFIEC) National Credit Union Administration (NCUA) Office of Thrift Supervision

Federal Trade Commission (FTC)

The ________________________ is also known as the Financial Services Modernization Act. National Bank Act of 1864 Correct Gramm-Leach-Bliley Act Bank Secrecy Act of 1970 Bank Holding Company Act of 1956

Gramm-Leach-Bliley Act

A merchant of an e-commerce Web site wants to accept credit cards as a form of payment. Which of the following must the merchant follow to ensure the safety of those payments? PCI DSS GLBA SOX FISMA

PCI DSS

The purpose of the Gramm-Leach-Bliley Act __________________ is to fight identity theft. Privacy Rule Safeguards Rule Pretexting Rule Red Flags Rule

Pretexting Rule

Required by the Fair and Accurate Credit Transaction Act of 2003 (FACTA), which of the following is an anti-identity theft rule created by federal bank regulatory agencies (the Fed, FDIC, OTS, OCC, and NCUA) and the FTC? Privacy Rule Safeguards Rule Pretexting Rule Red Flags Rule

Red Flags Rule

Which Gramm-Leach-Bliley Act rule requires federal bank regulatory agencies, the SEC, and the FTC to issue security standards for the institutions that they regulate? Privacy Rule Safeguards Rule Pretexting Rule Red Flags Rule

Safeguards Rule

here are ______regional Federal Reserve Banks, which serve different geographic districts. 16 20 22

12

All of the following are examples of consumer financial institutions except: savings and loans associations credit unions insurance companies the Federal Reserve System

the Federal Reserve System

In January 2007, TJX disclosed that hackers had breached its credit card systems. The company reported that the attackers might have accessed credit card data going back to 2002. It reported that 45.7 million credit and debit card numbers might have been disclosed. At the time, the breach was believed to be the largest ever. Banks and customers sued TJX in connection with the breach. State governments also sued the company for failing to protect the credit card information of state residents. Given the nature of this breach, which federal agency opened an investigation? the Federal Trade Commission the Federal Reserve System the Federal Deposit Insurance Corporation the Consumer Financial Protection Bureau

the Federal Trade Commission