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New York Department of Financial Services Reaches $1 Million Dollar Settlement With First American Title Insurance in Data Breach Investigation

Hunton Privacy

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

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The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Digital Transformation is More Than Scanning Paper Documents.

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

The Last Watchdog

So why hasn’t the corporate sector been more effective at locking down access for users? based supplier of identity access management (IAM) systems, which recently announced a partnership with Omada, a Copenhagen-based provider of identity governance administration (IGA) solutions. It’s not for lack of trying.

Access 169
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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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President Trump Signs Financial Services Regulatory Reform Legislation

Data Matters

The definition of “banking entity” now excludes insured depository institutions (and their parent companies and affiliates) if (i) the institution has less than $10 billion in total consolidated assets and (ii) the institution’s trading assets and liabilities are less than 5 percent of its total consolidated assets.

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First American Financial Pays Farcical $500K Fine

Krebs on Security

The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 Title insurance protects homebuyers from the prospect of someone contesting their legitimacy as the new homeowner. Title insurance is not mandated by law, but most lenders require it as part of any mortgage transaction.

Insurance 288
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NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches

Hunton Privacy

On June 24, 2022, the New York State Department of Financial Services (“NYDFS” or the “Department”) announced it had entered into a $5 million settlement with Carnival Corp. Since Carnival was licensed by the Department to sell insurance in NY State, it was treated as a covered entity under the Cybersecurity Regulation.