GLBA and SOX

The Gold Standard for Secure Compliant File Sharing

Empowering Financial Institutions with Unmatched Security and Compliance in File Sharing

Keep Your Customers’ Data Safe

Navigating the complex landscape of financial regulations can be daunting. But with Sharetru, you're not alone. We help you meet the parts of GLBA and SOX that touch file sharing: controlling who can see customer and financial data, encrypting it in transit and at rest, and keeping a record of every action.

Independent proof, not just promises. Sharetru is SOC 2 Type II Attested, and customers can review the report under the mutual NDA in our Terms of Service.

A note on PCI DSS. Sharetru's servers sit in a data center that is PCI DSS compliant, but Sharetru itself has not been assessed against PCI DSS. If you encrypt cardholder data with strong cryptography before you upload it, and Sharetru never has the keys, PCI Security Standards Council guidance says that encrypted data may be out of scope for Sharetru as your service provider. Your encryption and your keys stay in scope for you, and card numbers must stay out of file and folder names. Talk to us first if you need to store or send cardholder data.

See it for yourself. Start a 15-day free trial and see how Sharetru handles your files.

In the financial services industry, the security of your data isn't just a priority—it's a necessity. That's where Sharetru comes in. We're not just another file sharing platform; we're your partner in meeting the file sharing requirements of financial regulations like GLBA and SOX.

At Sharetru, we understand that your customers' trust hinges on your ability to protect their data. That's why we've built a platform that puts security at the forefront. With multistage encryption and granular access control, you can share files with confidence and show your auditors who accessed what, and when.

Read How To Protect Customers' Data

How Sharetru Streamlines Your Financial Regulation Compliance

Imagine a world where sharing sensitive financial data is as easy as it is secure. With Sharetru, that's not just a dream—it's your new reality, thanks to our robust controls designed specifically for the financial services industry.

Find Out More

Specific Access Rights Assignment As an admin, you're in the driver's seat, handpicking the access rights for each user account. Not only can you authorize specific actions for each user, but you can also put up a 'No Entry' sign for certain IP addresses. With Sharetru, you're not just managing access, you're curating it.

Multistage Encryption

Think of your data as a precious artifact in a high-security museum. With Sharetru, your data—whether at rest or on the move—is cloaked in the latest cipher strength, as impenetrable as a vault. Our SFTP file transfers are safeguarded with AES-256 encryption, while FTPS/HTTPS transfers follow the formidable TLS 1.2 standard. It's not just encryption; it's peace of mind

User Authentication Suspension Imagine a world where user authentication is as automated as your morning coffee. With Sharetru, you can set it and forget it, disabling authentication based on user inactivity or with a simple click. You can even schedule suspensions in advance—because who says security can't be convenient?

Sharetru icon: Multi-Factor Authentication

Multi-Factor Authentication In the realm of user authentication, one size doesn't fit all. That's why Sharetru offers Multi-Factor Authentication (MFA) via One-Time Passcodes (OTP), giving you the power to dictate delivery methods—be it email, SMS, or TOTP mobile apps. Or, empower your users to choose their own adventure. It's security that adapts to you.

Role-Based Access Controls

Give each person only the access their job needs. Sharetru separates administrators, group managers, users and auditors, so you can show exactly who can do what. That's the kind of access control GLBA expects.

Audit Logs

Every user action is logged, so you always know who did what and when. Sharetru keeps log history for 3 months on Core and 6 months on Complete.

Email Journaling

Say goodbye to email chaos. Sharetru lets you consolidate message traffic notifications into your chosen internal mailbox, creating a neatly sorted email record for swift access. Keep it private or grant access to select users—your inbox, your rules.

User Jailing

Add an extra layer of security as effortlessly as adding a layer of frosting on a cake. With Sharetru, you can establish basic user-to-folder relationships and configure site-wide settings to keep users within their home folders. It's not just about setting boundaries; it's about fortifying your fortress.

SOX

Establish Controls to Enable Compliance

The goal of all your SOX-based compliance measures should be to protect all financial data. Many companies take the step of encrypting all of their sensitive financial data, guarding it against unauthorized access.

Besides data encryption, your organization should also have appropriate security controls in place to prevent data loss or alteration. Following cybersecurity best practices with regard to granular access controls, user passwords, and file sharing security helps you protect SOX-covered information.

Sharetru gives you these controls out of the box: encryption in transit and at rest, granular access controls, password policies and a full audit trail of every action.

The Sarbanes-Oxley Act (SOX) was passed in 2002 to ensure the protection of shareholders and citizens from the accounting errors and fraudulent practices of enterprises. It also helps to confirm the accuracy of these businesses’ public disclosures.

Since all public companies have to comply with SOX, understanding the steps your organization must take to maintain compliance is essential. To stay SOX-compliant, public companies must:

Issue periodic financial statements to be audited by third-party auditors
Promptly report to the public any significant changes to the company’s financial situation
Establish internal controls to detect and prevent fraud, as well as to preserve the integrity of the company’s financial data
Provide an annual management assessment of internal controls to be approved by third-party auditors

Read About Establishing Controls

GLBA

Meet the GLBA Safeguards Rule

All of our servers are located within a highly secure data center in the U.S., in a cloud infrastructure that is PCI DSS compliant and certified by VISA.

Sharetru enables you to restrict access by user, assign a unique login to each employee, and require multi-factor authentication. Our customers' file sharing sites are hosted behind hardware and software firewalls.

You can also require your users to connect using encrypted protocols with no exceptions, and every action is logged, so you can show your auditors who did what.

The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to protect the nonpublic personal information of their customers. Its Safeguards Rule sets out what that protection has to include.

For the information you share and store, the Safeguards Rule expects you to:

Limit access to customer information to the people who need it
Encrypt customer information in transit and at rest
Require multi-factor authentication for anyone accessing your systems
Log and monitor what authorized users do
Oversee the service providers who handle customer information for you

Read: the GLBA Safeguards Rule and file transfer

Steer Clear of Expensive Damages

Executives may be ordered to pay up to $1 million in fines and could be imprisoned for 10 years for knowingly certifying financial reports that don't comply with SOX requirements.

Violations of GLBA can also result in expensive penalties and jail time, such as:

$100,000 fines levied on financial institutions for each violation
$10,000 fines to be paid by individuals in charge for each violation
Up to 5 years in prison for individuals found in violation

That's why your file storage and transfer platform needs the controls these laws expect: access control, encryption and a complete audit trail. Sharetru gives you all three.

In addition to shielding your organization from significant financial penalties, complying with GLBA and SOX protects nonpublic information. This in turn builds trust and loyalty, supporting your customer retention.

Because of the onslaught of malware and ransomware attacks on financial institutions, having a robust cybersecurity defense is vital to your business. Most security threats come from within an organization, so it’s important for you to be able to track your users’ activity quickly as our platform enables you to do.

The potential fines your organization could face for violations of GLBA or SOX are considerable. It’s crucial that you equip your organization with a secure file sharing solution like Sharetru, which makes it much easier to comply with these key frameworks.

Read: how GLBA, SOX and HIPAA differ

Check Out Additional Resources

See all resources here

Blog

PCI-DSS File Sharing Requirements

Explore PCI DSS file sharing requirements to ensure secure and compliant data transfer practices for protecting sensitive information.

The controls below protect the customer and financial data you share on Sharetru, wherever your users connect from.

Build and Maintain a Secure Network

To decrease the risk of unauthorized access, we never use default system passwords. We also maintain a secure firewall at the perimeter of our network to protect your customer data from breaches.

Protect Customer Data

All platform subscriptions include encrypted protocols, and you can control the use of encrypted transmission. We recommend pre-encryption but do offer automated server-side encrypted storage mechanisms.

Maintain a Vulnerability Management Program

To further reduce the risk of compromising your customer data, we reinforce the security of our platform by configuring our office systems, such as Windows desktops, with regularly updated anti-virus software.

Implement Strong Access Control Measures

Our platform enables you to assign unique login IDs to users. We operate in a high-security data center that requires biometric + card + pin for physical access, and our servers are safe inside locked cabinetry.

Regularly Monitor and Test Networks

To help you track and monitor all access to network resources and customer data, we log all access activity and make those detailed logs available to you in the web app. We also routinely test our system for vulnerabilities.

Maintain an Information Security Policy

Our security policy helps to ensure your folders and data transmissions are secured, your users must comply with essential controls like password strength and encrypting transmissions, and your auditors can verify everything.

Let Us Show You

You don’t have to just take our word for it. We’ve been leading the charge in secure online file sharing since the beginning, and we’d love to show you how we do it. Schedule your demo today.