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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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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

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Top 12 Cloud Security Best Practices for 2021

eSecurity Planet

From the very beginning of the cloud computing era, security has been the biggest concern among enterprises considering the public cloud. In addition, 95 percent of survey respondents confirmed that they are extremely to moderately concerned about public cloud security. What is cloud security?

Cloud 106
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5 things to know: IBM Cloud’s mission to accelerate innovation for clients

IBM Big Data Hub

We are bringing the power of foundation models with the availability of a GPU as a service on IBM Cloud offering to help organizations tap into artificial intelligence (AI) in a secured environment while aiming to mitigate third- and fourth-party risk.

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NYDFS Cybersecurity Regulations: A glimpse into the future

Thales Cloud Protection & Licensing

The cybersecurity regulation ( 23 NYCRR 500 ) adopted by the New York State Department of Financial Services (NYDFS) is nearly two years old. The 2017 bill, the first of its kind, will be fully implemented as of March 1st, 2019. Application layer security ensures secure development practices for in-house developed applications.

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New York State Expected to Increase Enforcement of Cybersecurity Practices

HL Chronicle of Data Protection

Companies should take note of two imminent developments in New York in the area of cybersecurity regulation: enforcement of the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (Regulation) and the effective date of the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act or Act).

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GUEST ESSAY: The drivers behind persistent ransomware — and defense tactics to deploy

The Last Watchdog

Healthcare and public health, financial services, and IT organizations are frequent targets, although businesses of all sizes can fall victim to these schemes. The increase in remote workforces and difficulty enforcing security controls with expanding perimeters has played a role in the rise of ransomware.