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Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

HL Chronicle of Data Protection

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.

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FTC Proposes Changes to GLB Privacy and Safeguards Rules

Hunton Privacy

The proposed changes would add more detailed requirements on how financial institutions must protect customer information. The Privacy Rule, which went into effect in 2000, requires a financial institution to provide privacy notices to customers and the ability to opt out of having their information shared with certain third parties.

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FTC Seeks Comment on Proposed Changes to its GLBA Safeguards and Privacy Rules

Data Matters

Of particular note, the Safeguards Rule NPRM proposes to align the FTC’s requirements with those of the New York Department of Financial Services (“NYDFS”), as found in its cybersecurity regulations, and the National Association of Insurance Commissioners (“NAIC”), as found in its insurance data security model law.

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FTC Seeks Comment on Proposed Changes to GLBA Implementing Rules

HL Chronicle of Data Protection

When the GLBA was enacted in 1999, the FTC was one of several federal regulators with rulemaking authority, and the FTC’s Privacy Rule applied to a broad range of non-bank financial institutions, such as payday lenders, mortgage brokers, check cashers, and debt collectors. The FTC retained authority over certain motor vehicle dealers only.

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MyPayrollHR CEO Arrested, Admits to $70M Fraud

Krebs on Security

In the criminal complaint against Mann (PDF), a New York FBI agent said the CEO admitted that starting in 2010 or 2011 he began borrowing large sums of money from banks and financing companies under false pretenses. ” “Mann estimated that he fraudulently obtained about $70 million that he has not paid back. .”

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#ModernDataMasters: Bob More, SVP Global Field Operations

Reltio

As a result of the highly visible and mission critical solutions we were providing and the ongoing industry consolidation, Informatica acquired Siperian in 2010 and it has since become the cornerstone of their MDM capabilities.

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MY TAKE: Identity ‘access’ and ‘governance’ tech converge to meet data protection challenges

The Last Watchdog

Not long afterwards, in about the 2010 time frame, IAM vendors first arrived on the scene, including Optimal IdM, Centrify, Okta and CyberArk, followed by many others. These vendors all spun out of the emergence of a new set of protocols, referred to as federated standards, designed to manage and map user identities across multiple systems.

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