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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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Black Friday and Cyber Weekend: Navigating the Tumultuous Waters of Retail Cybersecurity

Thales Cloud Protection & Licensing

The IBM 2023 Cost of a Data Breach Report , for example, highlights the continuous financial burden on retailers, which, coupled with potential reputational damage, emphasizes the dire need for retailers to prioritize and bolster their cybersecurity measures. The security of our financial data is of paramount importance.

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$8 million penalty to NYDFS – and another case of over-retention

Data Protection Report

On January 3, 2024, the New York Department of Financial Services announced a consent order with GGT, where GGT agreed to pay NYDFS $8 million and to surrender its BitLicense (for cryptocurrency trading), due to alleged violations of NYDFS’ cybersecurity and its virtual currency regulations.

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5 things to know: Driving innovation with AI and hybrid cloud in the year ahead

IBM Big Data Hub

For organizations of all types—and especially those in highly regulated industries such as financial services, government, healthcare and telco—considerations including the rise of generative AI, evolving regulations and data sovereignty laws and ongoing security challenges must be top of mind.

Cloud 66
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Security Compliance & Data Privacy Regulations

eSecurity Planet

See the Top Governance, Risk and Compliance (GRC) Tools. billion (then the equivalent of about $2.7 Other industry standards too can have the force of “pseudo-law” – notably, the NIST Cybersecurity Framework, which federal regulators often apply to financial-services firms and government contractors.

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Tackling Data Sovereignty with DDR

Security Affairs

Data sovereignty also encompasses the rights and regulations governing data storage, processing, and transfer and often intersects with privacy, security, and legal considerations. It employs encryption, tokenization, and data masking to ensure that sensitive information remains protected throughout its lifecycle, both in transit and at rest.

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Top 12 Cloud Security Best Practices for 2021

eSecurity Planet

In addition, 95 percent of survey respondents confirmed that they are extremely to moderately concerned about public cloud security. Enterprises that are considering a particular cloud vendor should review its policies about shared security responsibilities and understand who is handling the various aspects of cloud security.

Cloud 131