OpenText Information Management

NOVEMBER 22, 2023

All of these elements have put pressure on the financial … The post Predictions for the financial services industry in 2024 appeared first on OpenText Blogs.

Financial Services 57

Financial Services Artificial Intelligence Customer Experience Content services 57

OpenText Information Management

APRIL 19, 2021

It’s estimated that the financial services sector could see as much as $6 trillion in cybercrime damages in 2021. In fact, research shows that financial services firms are over 300 times more … The post Could digital fax be a secret weapon for cybersecurity in financial services?

Financial Services 62

Financial Services Cybersecurity IT Insurance 62

Data Matters

AUGUST 19, 2020

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.

Financial Services 68

Financial Services Cybersecurity Insurance Risk 68

Hunton Privacy

FEBRUARY 22, 2021

The NYDFS learned of the threat after receiving reports from auto insurers that cybercriminals were targeting their premium quote sites to steal driver’s license numbers. The NYDFS learned of the threat after receiving reports from auto insurers that cybercriminals were targeting their premium quote sites to steal driver’s license numbers.

Financial Services 86

Financial Services Insurance Cybersecurity Analytics 86

Hunton Privacy

JULY 1, 2022

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.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

Hunton Privacy

NOVEMBER 8, 2023

On November 1, 2023, New York Governor Hochul announced that the New York State Department of Financial Services (“NYDFS”) amended its Cybersecurity Regulation applicable to covered financial institutions. The amended Cybersecurity Regulation will take effect in phases.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

Hunton Privacy

JANUARY 24, 2018

On January 22, 2018, the New York Department of Financial Services (“NYDFS”) issued a press release reminding entities covered by its cybersecurity regulation that the first certification of compliance with the regulation is due on or prior to February 15, 2018.

Financial Services 58

Financial Services Cybersecurity Compliance Insurance 58

Security Affairs

NOVEMBER 20, 2021

banking regulators have approved a new rule that orders banks to notify federal regulators of significant cybersecurity incidents within 36 hours. banking regulators this week approved a rule that obliges banks to report any major cybersecurity incidents to the government within 36 hours of discovery. Pierluigi Paganini. The post U.S.

Cybersecurity 133

Cybersecurity Financial Services Insurance Ransomware 133

Data Matters

JANUARY 28, 2022

Other government agencies, like the New York Department of Financial Services and the Federal Trade Commission, are also increasingly focused on the need for broad implementation of MFA. Like an incident response plan, MFA has become a critical element of cybersecurity programs. The post U.S.

Cybersecurity 157

Cybersecurity Financial Services Authentication Government 157

Data Protection Report

JUNE 2, 2021

On May 13, 2021, the New York Department of Financial Services (NYDFS) announced a $1.8 million settlement with two related insurance companies, relating to violations of two different requirements of the NYDFS cybersecurity regulation during the period 2018 to 2019. NYDFS Cybersecurity Regulation.

Cybersecurity 70

Cybersecurity Insurance Financial Services Phishing 70

Krebs on Security

JULY 23, 2020

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. based First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2

Insurance 284

Insurance Financial Services Mining Access 284

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

Insurance 70

Insurance Cybersecurity Risk Education 70

eSecurity Planet

FEBRUARY 11, 2022

The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. This article looks at cybersecurity risk management, how to establish a risk management system, and best practices for building resilience. What is Cybersecurity Risk Management?

Risk 121

Risk Cybersecurity Encryption Access 121

IBM Big Data Hub

MARCH 20, 2024

For highly regulated industries, these challenges take on an entirely new level of expectation as they navigate evolving regulatory landscape and manage requirements for privacy, resiliency, cybersecurity, data sovereignty and more. Read to learn more about cloud adoption within financial services?

Cloud 81

Cloud Financial Services Risk Business Services 81

Data Protection Report

APRIL 22, 2021

On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. NSC), relating to violations of three different requirements of the NYDFS cybersecurity regulation during the period 2018 to 2020. NYDFS Cybersecurity Regulation.

Cybersecurity 94

Cybersecurity Financial Services Phishing Compliance 94

HL Chronicle of Data Protection

FEBRUARY 25, 2020

Companies should take note of two imminent developments in New York in the area of cybersecurity regulation: enforcement of the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (Regulation) and the effective date of the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act or Act).

Cybersecurity 104

Cybersecurity Financial Services Data breaches Insurance 104

HL Chronicle of Data Protection

MAY 13, 2019

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

Data Matters

MARCH 28, 2022

Department of Health and Human Service’s Office for Civil Rights (“OCR”) issued industry guidance for Health Insurance Portability and Accountability Act (“HIPAA”) regulated entities to take preventative steps to protect against some of the more common, and often successful, cyber-attack techniques. On March 17, 2022, the U.S.

Cybersecurity 88

Cybersecurity Privacy Insurance Risk 88

Krebs on Security

MAY 31, 2019

New York regulators are investigating a weakness that exposed 885 million mortgage records at First American Financial Corp. NYSE:FAF] as the first test of the state’s strict new cybersecurity regulation. No authentication was needed to access the digitized records. ”

Financial Services 203

Financial Services Insurance Sales Authentication 203

Hunton Privacy

JULY 24, 2020

On Wednesday, July 22, the New York Department of Financial Services (the “NYDFS”) announced that it had filed administrative charges against First American Title Insurance Co. under the NYDFS Cybersecurity Regulation , marking the agency’s first enforcement action since the rules went into effect in March 2017.

Cybersecurity 85

Cybersecurity Risk Financial Services Insurance 85

Data Matters

JUNE 24, 2021

On June 15, 2021, the SEC announced settled charges against First American Title Insurance Company (First American) for disclosure controls and procedures violations related to a cybersecurity vulnerability that exposed sensitive customer information. This resolution highlights the SEC’s continued focus on cybersecurity.

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

Krebs on Security

JUNE 18, 2021

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 265

Insurance Risk Financial Services Mining 265

Data Matters

APRIL 20, 2021

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.

Cybersecurity 68

Cybersecurity Insurance Risk Compliance 68

Hunton Privacy

MARCH 23, 2018

The FSB is developing the cyber lexicon to address cybersecurity and cyber resilience in the financial sector and hopes that it will boost cross-border cooperation on cybersecurity. According to the note, “[t]he FSB has formed a working group, chaired by the U.S.

Cybersecurity 45

Cybersecurity Financial Services Insurance Communications 45

Hunton Privacy

SEPTEMBER 15, 2016

The proposed regulation requires regulated financial institutions to take various actions, including: adopting a written cybersecurity policy; establishing a cybersecurity program; designating a Chief Information Security Officer to oversee and enforce its new program and policy; and.

Cybersecurity 40

Cybersecurity Financial Services Insurance Information Security 40

Hunton Privacy

APRIL 27, 2017

Earlier this month, the New York State Department of Financial Services (“NYDFS”) recently published FAQs and key dates for its cybersecurity regulation (the “NYDFS Regulation”) for financial institutions that became effective on March 1, 2017. March 1, 2018 – the one year transitional period ends.

Cybersecurity 53

Cybersecurity Compliance Financial Services Insurance 53

Data Protection Report

JANUARY 7, 2019

The two-year transitional period under the New York State Department of Financial Services (“DFS””) Cybersecurity Regulation , 23 NYCRR 500 (the “Regulation”), will expire on March 1, 2019, with the final remaining requirement becoming effective. Periodic risk-based assessments of third parties. Upcoming certifications.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40

Data Protection Report

FEBRUARY 8, 2018

February 15, 2018, is quickly approaching and any entity subject to New York’s cybersecurity regulation (23 NYCRR Part 500) must file its first annual certification of compliance with the New York State Department of Financial Services (DFS) by that date.

Cybersecurity 40

Cybersecurity Financial Services Compliance Insurance 40

Hunton Privacy

DECEMBER 11, 2014

On December 10, 2014, the New York State Department of Financial Services (the “Department”) announced that it issued an industry guidance letter to all Department-regulated banking institutions that formally introduces the Department’s new cybersecurity preparedness assessment process.

Cybersecurity 40

Cybersecurity Financial Services Insurance Information Security 40

Hunton Privacy

FEBRUARY 6, 2015

On February 3, 2015, the Securities and Exchange Commission (“SEC”) released a Risk Alert , entitled Cybersecurity Examination Sweep Summary, summarizing observations from the recent round of cybersecurity examinations of registered broker-dealers and investment advisers under the Cybersecurity Examination Initiative.

Cybersecurity 40

Cybersecurity Insurance Financial Services Risk 40

HL Chronicle of Data Protection

MARCH 16, 2020

On Tuesday, 3 March 2020, we welcomed our financial services clients in London to a lively panel event, which covered the multitude of issues which arise in a cybersecurity incident. Peter Marta. Arwen Handley. Philip Parish. Nicola Fulford.

Cybersecurity 59

Cybersecurity Financial Services Risk Insurance 59

Privacy and Cybersecurity Law

SEPTEMBER 20, 2016

On September 13, 2016, the New York Department of Financial Services introduced a new rule that would require banks, insurance […].

Financial Services 40

Financial Services Insurance Cybersecurity Data breaches 40

Security Affairs

JANUARY 17, 2022

.” The CPU will address critical vulnerabilities in Oracle Essbase, Graph Server and Client, Secure Backup, Communications Applications, Communications, Construction and Engineering, Enterprise Manager, Financial Services Applications, Fusion Middleware, Insurance Applications, PeopleSoft, Support Tools, and Utilities Applications.

Communications 112

Communications Financial Services Big data Retail 112

Data Protection Report

OCTOBER 24, 2022

On October 18, 2022, the New York Department of Financial Services announced a settlement with EyeMed, a licensed life, accident, and health insurer, with respect to a security incident that occurred in 2020. Nevertheless, EyeMed certified its compliance with the Cybersecurity Regulation annually, from 2018-2021.

Cybersecurity 52

Cybersecurity Personal data Risk Financial Services 52

Data Matters

AUGUST 5, 2019

Furthermore, although entities that already comply with the breach notification requirements under certain state or federal laws (such as the Health Insurance Portability and Accountability Act (HIPAA), the New York Department of Financial Services cybersecurity regulations (23 N.Y.C.R.R.

Cybersecurity 68

Cybersecurity Data breaches Privacy Risk 68

Data Matters

JANUARY 2, 2018

This past year was marked by ever more significant data breaches, growing cybersecurity regulatory requirements at the state and federal levels and continued challenges in harmonizing international privacy and cybersecurity regulations. A Pivot Toward Asia for Privacy and Cybersecurity Laws. After years of EU-U.S.

Cybersecurity 68

Cybersecurity Privacy Data breaches GDPR 68

Security Affairs

AUGUST 16, 2023

A phishing campaign employing QR codes targeted a leading energy company in the US, cybersecurity firm Cofense reported. Other top 4 targeted industries include Manufacturing, Insurance, Technology, and Financial Services seeing 15%, 9%, 7%, and 6% of the campaign traffic respectively.” ” continues the report.

Phishing 96

Phishing Energy and Utilities Insurance Manufacturing 96