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Chapter 1 BUSINESS IMPACTS OF POOR DATA QUALITY 7 · The Gramm­Leach­Bliley Act mandates that financial insti- tutions are obligated to "respect the privacy of its customers and to protect the security and confidentiality of those custo- mers' nonpublic personal information." · Credit risk assessment requires accurate documentation to evaluate an individual's or organization's abilities to repay loans. · System development risks associated with capital investment in deploying new application systems emerge when moving those systems into production is delayed because of lack of trust in the application's underlying data assets. Although the sources of these areas of risk differ, one similar- ity becomes clear: not only do these mandate the use or presen- tation of high quality information, they also require means of demonstrating the adequacy of internal controls overseeing that quality. Organizations must be able to assess, measure, and con- trol the quality of data as well as have the means for external auditors to verify those observations. Ultimately, the objective is to maximize the value of the information based on reducing