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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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Scary Fraud Ensues When ID Theft & Usury Collide

Krebs on Security

But Jim has long had a security freeze on his credit file with the three major consumer credit reporting bureaus , and none of the lenders seemed willing to proceed without at least a peek at his credit history. Then in mid-January, Jim heard from MSF via snail mail that they’d discovered a data breach.

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A consumer perspective on FinTech disruption (part 3)

CGI

Fri, 01/13/2017 - 01:45. This is the final blog in my three-part series on the disruptive impact of financial technology (FinTech) firms on today’s banks. As FinTechs increasingly invest in these services, they’re posing a real threat to the customer bases and revenues of traditional banks. .* Recommendations for banks.

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Six big takeaways for financial institutions from CBA LIVE

CGI

This year’s CBA LIVE (March 12-14) was a great opportunity to hear thoughts from established banks and FinTech startups—as well as partners, competitors and even experts outside of banking—to affirm (or at times adjust) my thinking about the direction the industry is heading. Blog moderation guidelines and term of use. Add new comment.

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Six big takeaways for financial institutions from CBA LIVE

CGI

This year’s CBA LIVE (March 12-14) was a great opportunity to hear thoughts from established banks and FinTech startups—as well as partners, competitors and even experts outside of banking—to affirm (or at times adjust) my thinking about the direction the industry is heading. Blog moderation guidelines and term of use. Add new comment.

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An Approach to Cybersecurity Risk Oversight for Corporate Directors

Data Matters

Recent guidance from the Securities and Exchange Commission (SEC) on disclosure and enforcement actions by the Federal Trade Commission (FTC) make clear that cybersecurity is no longer a niche topic, but a concern significant enough to warrant the oversight of corporate boards of directors.

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Nation-State-Sponsored Attacks: Not Your Grandfather’s Cyber Attacks

Data Matters

It used to be that data breaches were all about cyber-crooks hacking computer systems to steal personal information, followed by an affected company sending regretful notification letters offering a year or two of complimentary credit monitoring. 26,633 (May 12, 2021). All rights reserved. 14,028, 86 Fed. and Allied cyberspace assets.