What are the legal requirements for preventing online fraud?

In Oklahoma, businesses must comply with state and federal laws in order to prevent online fraud. The most important of these is the Gramm-Leach-Bliley Act of 1999 (GLBA). This act requires all businesses with access to customer information to develop, implement, and maintain a written Information Security Program (ISP) that complies with the law. This ISP must protect the security and confidentiality of customer information. Other legal requirements for preventing online fraud include the Oklahoma Identity Theft Prevention Act (ITPA) of 2003 and the Oklahoma Consumer Protection Act (CPA) of 2004. The ITPA requires businesses to notify customers of any unauthorized access to sensitive information, while the CPA mandates that businesses must provide customers with clear and concise contracts that outline their services and the applicable terms. Finally, businesses must also comply with the Payment Card Industry Data Security Standard (PCI DSS). This is a set of guidelines developed by the major credit card companies to ensure the safety of customer data. By complying with the PCI DSS, businesses can ensure that their payment card systems are secure and reliable. These legal requirements help protect businesses and their customers from potential online fraud. Businesses must be diligent in ensuring that they are compliant with the applicable laws in order to protect their customers’ sensitive information and to prevent online fraud.

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What are the legal requirements for preventing online fraud?

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