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The Week in Cyber Security and Data Privacy: 30 October – 5 November 2023

IT Governance

When MOVEit was hacked by the Russian Cl0p ransomware gang in May, email addresses and links to government employee surveys were compromised. According to Forbes , Defense Department employees affected included “officials from the Air Force, the Army, the Army Corps of Engineers, the Office of the Secretary of Defense and the Joint Staff”.

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Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs

Hunton Privacy

As part of the “risk assessment” requirements under Section 500.9 of the Proposed Amendments, Class A Companies must use external experts to conduct a risk assessment at least once every three years. A covered entity’s CISO must have adequate independence and authority to ensure cyber risks are appropriately managed.

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NYDFS proposes significant cybersecurity regulation amendments

Data Protection Report

The proposed changes mark a turn by NYDFS toward more specific, granular and prescriptive requirements notably with respect to governance, risk assessments and asset inventories (detailed below). Cybersecurity Risk Assessments. The draft amendments would also require that relevant employees be trained for their implementation.