article thumbnail

CHINA: New draft proposes more stringent requirements for processing data in the financial services industry

DLA Piper Privacy Matters

At a high level, we anticipate financial institutions will already be doing this, so it will be interesting to see whether more granular security standards will be subsequently published and whether they impose higher requirements than, say, current international best practice standards.

article thumbnail

Financial Services Organizations Need to Adapt their Security Practices to the Shifting Environment

Thales Cloud Protection & Licensing

Financial Services Organizations Need to Adapt their Security Practices to the Shifting Environment. Thu, 11/05/2020 - 06:52. Even “traditional banks” seek to drive more revenue from digital products, personalized services and experiences. Labelled Industry 4.0, Weak security practices lead to data breaches.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Embracing new ways of working in financial services

CGI

Embracing new ways of working in financial services. In times of crisis, the preservation of key functions and services is critical, regardless of industry. Financial services is no exception, as payments, lending, and trade are the lifeblood of the global economy, even in challenging times. lynsey.lawson@….

article thumbnail

NY Department of Financial Services Issues Cyber Fraud Alert to Regulated Entities Using Instant Quote Websites

Hunton Privacy

As we previously reported , NYDFS issued guidance regarding cybersecurity during the pandemic in April 2020. Blocking the IP addresses of suspected unauthorized users and considering quote limits per user session.

article thumbnail

Embracing new ways of working in financial services

CGI

Embracing new ways of working in financial services. In times of crisis, the preservation of key functions and services is critical, regardless of industry. Financial services is no exception, as payments, lending, and trade are the lifeblood of the global economy, even in challenging times. Customer service.

article thumbnail

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.

article thumbnail

New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. individuals and businesses comply with ransomware payment demands in this October 2020 client alert.) The post New York Department of Financial Services Issues First Guidance by a U.S. Evaluate Systemic Risk.