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NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies

Data Protection Report

On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. These revisions represent the most significant modifications since the enactment of the rules in March 2017. One Year from Publication in State Register 500.4:

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Experts linked ransomware attacks to China-linked APT27

Security Affairs

defense contractors , financial services firms, and a national data center in Central Asia. The hackers used the Windows drive encryption tool BitLocker to lock the servers. “Earlier this year, Security Joes and Profero responded to an incident involving ransomware and the encryption of several core servers.

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Top 12 Cloud Security Best Practices for 2021

eSecurity Planet

Does the provider encrypt data while in transit and at rest? Specifically, these tools address a number of security requirements, including patch management , endpoint encryption, VPNs , and insider threat prevention among others. Encrypt data in motion and at rest. Encryption is a key part of any cloud security strategy.

Cloud 102
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Transition period under New York Cybersecurity Regulation ends March 1, 2019

Data Protection Report

The two-year transitional period under the New York State Department of Financial Services (“DFS””) Cybersecurity Regulation , 23 NYCRR 500 (the “Regulation”), will expire on March 1, 2019, with the final remaining requirement becoming effective. Third-party service provider risk management program.

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Chinese LuckyMouse APT has been using a digitally signed network filtering driver in recent attacks

Security Affairs

defense contractors and financial services firms worldwide. In March 2018, security experts at Kaspersky Lab have observed an attack powered by the Chinese APT group, the experts speculate the campaign was started in the fall of 2017. ” reads the analysis published by Kaspersky. ” concludes Kaspersky.

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Ransomware Protection in 2021

eSecurity Planet

All of your files are encrypted with RSA-2048 and AES-128 ciphers.” ” Or you might see a readme.txt stating, “Your files have been replaced by these encrypted containers and aren’t accessible; you will lose your files on [enter date] unless you pay $2500 in Bitcoin.” Forensic Analysis.

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New York’s Breach Law Amendments and New Security Requirements

Data Protection Report

This change is consistent with the New York Attorney General’s position since 2017, which found that many popular websites permitted purchases to be made with credit cards without requiring security codes. Biometric information that is used to authenticate or ascertain the individual identity.