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NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies

Data Protection Report

On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. Some requirements also apply specifically to larger covered entities falling under the “Class A companies” category.

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First American Financial Pays Farcical $500K Fine

Krebs on Security

In May 2019, KrebsOnSecurity broke the news that the website of mortgage settlement giant First American Financial Corp. NYSE:FAF ] was leaking more than 800 million documents — many containing sensitive financial data — related to real estate transactions dating back 16 years. First American Financial Corp.

Insurance 286
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Security Compliance & Data Privacy Regulations

eSecurity Planet

But those aren’t the only laws or regulations that affect IT security teams. There are plenty of others to worry anyone with job titles that include terms like “compliance,” “privacy,” and “security,” from CSOs on down. See the Top Governance, Risk and Compliance (GRC) Tools. PIPL Raises the Bar – And the Stakes.

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Cybersecurity: Managing Risks With Third Party Companies

Cyber Info Veritas

This is according to a recent survey conducted by Soha Systems, and according to one of the speeches delivered by the Superintendent of the New York State Department of Financial Services, Mr. Benjamin Lawsky, “ A company’s cybersecurity is only as strong as the cybersecurity of its third-party vendors ”.

Risk 40
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How ATB Financial drives agile data ops with Collibra and GCP

Collibra

ATB Financial provides a diversified set of financial services to more than 770,000 residents of Alberta, Canada. Being a regionally focused institution, the group is dedicated to knowing its customers intimately, understanding their needs and providing products and services that help them achieve their goals.

Cloud 59
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New York Enacts Stricter Data Cybersecurity Laws

Data Matters

The law broadens the definition of “private information” which sets forth the information elements that, if breached, could trigger a notification obligation. 6) adjusts the security program in light of business changes or new circumstances; and. (ii)

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An Approach to Cybersecurity Risk Oversight for Corporate Directors

Data Matters

A high-profile cyber incident may cause substantial financial and reputational losses to an organization, including the disruption of corporate business processes, destruction or theft of critical data assets, loss of goodwill, and shareholder and consumer litigation. Aligning cyber risk with corporate strategy.