Remove Cybersecurity Remove Education Remove Financial Services Remove Training
article thumbnail

GUEST ESSAY: Why internal IT teams are ill-equipped to adequately address cyber risks

The Last Watchdog

Related: The case for augmented reality training Because of this, cybersecurity investments and regulatory oversight are increasing at an astounding rate , especially for those in the financial services industry, bringing an overwhelming feeling to chief compliance officers without dedicated security teams.

Risk 234
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. Lacewell stated that cybersecurity is the biggest risk for government and private organizations and described how the Framework is based on “extensive dialogue with industry and experts.”. Obtain Cybersecurity Expertise.

Insiders

Sign Up for our Newsletter

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

article thumbnail

What is Cybersecurity Risk Management?

eSecurity Planet

As data and IT infrastructure become more valuable by the day, cybersecurity risk management is increasingly important for enterprises with a steep cost for noncompliance or extensive, unaddressed vulnerabilities. What is Cybersecurity Risk Management? What IT Assets Need Protection? Maintaining Regulatory Compliance.

Risk 127
article thumbnail

GUEST ESSAY: 7 tips for protecting investor data when it comes to alternative asset trading

The Last Watchdog

Having access to a partner focused in cybersecurity brings fresh perspectives and allows for an unbiased evaluation of the systems in use. By working together, a robust cybersecurity framework can be established to protect investor data. Conduct employee training and awareness programs.

IT 189
article thumbnail

Developments in Health Privacy and Cybersecurity Policy and Regulation: OCR Issues Cybersecurity Warnings and New Health Data Legislation Is Introduced

Data Matters

implement a security awareness and training program for all workforce members pursuant to the HIPAA Security Rule. periodically examine the strength and effectiveness of their cybersecurity practices and increase or add security controls to reduce risk as appropriate pursuant to the HIPAA Privacy Rule. 45 CFR 164.308(a)(5)(i).

article thumbnail

DOL Puts Plan Sponsors and Other Fiduciaries on Notice: ERISA Requires Appropriate Precautions to Mitigate Cybersecurity Threats

Data Matters

There just may be a new cybersecurity regulator in town. Department of Labor (DOL) published its first cybersecurity guidance last week ( Cybersecurity Guidance ). The Cybersecurity Guidance is set forth in three parts: Tips for Hiring a Service Provider , directed toward plan sponsors and fiduciaries.

article thumbnail

What is a Cyberattack? Types and Defenses

eSecurity Planet

However, basic cybersecurity tools and practices, like patching , strong passwords , and multi-factor authentication (MFA), “can prevent 80 to 90% of cyberattacks,” said Anne Neuberger, deputy national security advisor for cyber and emerging technologies, during a White House press conference in Sept. The average cost of a breach is $3.6