Louisiana Private Investigator Licensing Practice Exam

Which law prohibits the use of false pretenses to obtain personal financial information?

1. Freedom of Information Act

2. Gramm-Leach Bliley Act

3. Telephone Records Privacy Protection Act

4. Private Investigator Licensing Act

The correct answer is: Gramm-Leach Bliley Act

The Gramm-Leach-Bliley Act is the law that prohibits the use of false pretenses to obtain personal financial information. This act was enacted to enhance privacy protections for consumers regarding their financial information. It mandates that financial institutions disclose their privacy policies and practices, particularly concerning how they gather and share personal financial data. Importantly, the act establishes legal protections against deceptive practices, making it illegal to use false pretenses to acquire sensitive financial information from individuals or entities. In this context, it is important to recognize that while the Freedom of Information Act focuses on public access to government records, the Telephone Records Privacy Protection Act addresses privacy issues specifically related to telephone records, and the Private Investigator Licensing Act pertains to the regulation of private investigators rather than the protection of financial information. Thus, the focus of the Gramm-Leach-Bliley Act on financial privacy and identity theft aligns directly with the prohibition in question.