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DORA: 1 year to go! Key recommendations for Financial Services to improve cybersecurity and resilience in multi-clouds

Thales Cloud Protection & Licensing

Key recommendations for Financial Services to improve cybersecurity and resilience in multi-clouds madhav Wed, 01/17/2024 - 05:46 The Digital Operational Resilience Act (DORA) will apply to the EU financial sector from 17 January 2025. As set out in its Article 2, DORA applies to the entire financial services sector.

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NYDFS Amends Cybersecurity Rules for Financial Services Companies

Hunton Privacy

On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. Any cybersecurity event that affects a third-party service provider that also affects the covered entity. Revised Definition of Class A Companies.

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NYDFS Proposes Updated Second Amendment to Its Cybersecurity Regulation

Hunton Privacy

On June 28, 2023, the New York Department of Financial Services (“NYDFS”) published an updated proposed Second Amendment (“Amendment”) to its Cybersecurity Regulation, 23 NYCRR Part 500. On November 9, 2022, NYDFS published a first draft of the proposed Amendment and received comments from stakeholders over a 60-day period.

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Scary Fraud Ensues When ID Theft & Usury Collide

Krebs on Security

“We believe the outsider may have had an opportunity to access the accounts of certain customers, including your account, at which point they would be able to view personal information pertaining to that customer and potentially obtain an unauthorized loan using the customer’s credentials,” MSF said. .”

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NYDFS proposes significant cybersecurity regulation amendments

Data Protection Report

On November 9, 2022, the New York Department of Financial Services (NYDFS) officially proposed changes to its cybersecurity regulation and opened a 60-day public comment period. Revised Definition of Class A Companies and other Key Requirements.

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NYDFS finalizes cybersecurity rule amendments

Data Protection Report

On November 1, 2023, the New York Department of Financial Services (NYDFS) finalized the second amendment to its cybersecurity regulations, which are available here. The two definitions from Section 500.1 a)), this new term applies.

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The Many Challenges of a Multi-Cloud Business Environment

Thales Cloud Protection & Licensing

At a global level, there's a broad acceptance that security teams are tightly involved with policy definition (82%), but an almost even split in relation to enforcement; 37% believe it is the security team’s responsibility while 45% believe that policy enforcement is up to the cloud provider.

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