A quarter (24.3 percent) of all information breaches happens at banks, credit associations and other money-related institution, as indicated by the 2017 Verizon Data Breach Investigations Report. The financial service industry works under the Gramm-Leach-Bliley Act, a 1999 law that oversees information security breaches. Congress should close this gap that lets financial institutions keep a quarter of all breaches secret from the public. The Federal Trade Commission also has authority to hold retailers accountable for failure to employ security practices that are reasonable and appropriate for their business.”]
Source: https://hackercombat.com/five-important-things-data-security/