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Data Protection in Financial Services Week 2022

Data Matters

EST. Sidley and OneTrust DataGuidance are pleased to announce that registration is now open for their annual Data Protection in Financial Services (DPFS) Week. have impacted financial services. WEBINAR. 4:00 p.m. – 5:30 p.m. GMT | 11:00 a.m. – 12:30 p.m.

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NYDFS Amends Cybersecurity Rules for Financial Services Companies

Hunton Privacy

On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. Any cybersecurity event that affects a third-party service provider that also affects the covered entity.

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Summary – “Industry in One: Financial Services”

ARMA International

The scope of a records and information management (RIM) program in financial services can seem overwhelming. Compared to other industries, the complexities of managing records and information in financial services are arguably some of the toughest to solve, primarily because of the intense regulatory scrutiny. History of Financial System. financial system continues to evolve in response to changing regulations. Financial Services Industry Overview.

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NY Department of Financial Services Issues Cyber Fraud Alert to Regulated Entities Using Instant Quote Websites

Hunton Privacy

Cybersecurity Financial Privacy U.S. State Law Consumer Protection Cyber Attack Internet New York Personal Information Service Provider

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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. Systemic risk includes critical third-party vendors and catastrophic cyber events involving third parties, such as NotPetya and SolarWinds. Cyber insurance policies should require victims to notify law enforcement in the event of a cyberincident. “[L]aw The post New York Department of Financial Services Issues First Guidance by a U.S.

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Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs

Hunton Privacy

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”).

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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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NY Department of Financial Services Issues Guidance to Regulated Entities Regarding Cybersecurity During the COVID-19 Pandemic

Hunton Privacy

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

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Scary Fraud Ensues When ID Theft & Usury Collide

Krebs on Security

Among the companies that checked to see if Jim still wanted that loan he never applied for last May was Mountain Summit Financial (MSF), a lending institution owned by a Native American tribe in California called the Habematelol Pomo of Upper Lake.

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GUEST ESSAY: The Top 5 myths about SIEM –‘security information and event management’

The Last Watchdog

Security Information and Event Management (SIEM) is not what it was 20 years ago. However, there are cases where enterprises, like large players in the financial services vertical, simply need to collect ridiculously vast amounts of data. One of the most commonly repeated phrases in the security industry is, “Security teams hate their SIEM!”. Related: The unfolding SIEM renaissance. Don’t get me wrong, SIEMs do take work through deployment, maintenance, and tuning.

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New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting

Data Matters

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. Finally, life insurers are ultimately responsible for ensuring compliance with such laws through diligence, even in the event that such external data, algorithm or predictive model is provided by a third-party vendor.

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Why `digital fakers’ have nowhere to hide

OpenText Information Management

I recently attended two really amazing events: the MoneyLive Summit in London and the OpenText™ Middle East Summit in Dubai. Banking & Insurance Customer Experience digital financial services digital transformation

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Privacy and Cybersecurity March 2019 Events

HL Chronicle of Data Protection

Please join us for our March 2019 events. Mark Brennan will discuss TCPA issues on the panel, “Financial Services and Litigation Trends,” at the American Financial Services Association (AFSA) Law and Compliance Symposium 2019. Join the Privacy and Cybersecurity team as they host two events on the CCPA, one on March 12 in Los Angeles and another on March 13 in San Francisco. March 6. Telephone Consumer Protection Act.

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Keeping Up with New Data Protection Regulations

erwin

Some industries, such as healthcare and financial services, have been subject to stringent data regulations for years: GDPR now joins the Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry Data Security Standard (PCI DSS) and the Basel Committee on Banking Supervision (BCBS). Compliance is an on-going requirement, so efforts to become compliant should not be treated as static events.

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New York State Expected to Increase Enforcement of Cybersecurity Practices

HL Chronicle of Data Protection

It applies to any “Covered Entity,” which is defined broadly to include “any Person operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization under the Banking Law, the Insurance Law or the Financial Services Law.”

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You’re Invited to an In-Person Event: CCPAnow: Understanding the Challenge Ahead and What You Should Be Doing Now

HL Chronicle of Data Protection

We are hosting an event on the CCPA, on April 16 in New York. How will the financial incentives and anti-discrimination provisions actually work when consumers exercise their rights? How do the CCPA’s exceptions for certain regulated companies, such as financial services, work? News & EventsCCPA now : Understanding the challenge ahead and what you should be doing now.

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Reltio Supports Apple CEO Tim Cook’s Clarion Call for Stronger US Customer Data Privacy Laws

Reltio

This sweeping level of visibility is invaluable in the event of a data breach. Data as a Service with traceability : Drawing from third-party sources is a major benefit, but GDPR compliance requires tracking which attributes came from where. Uncategorized Business Compliance & GDPR Financial Services & Insurance Healthcare High-Tech & Manufacturing Media & Entertainment Retail & CPG Travel & HospitalityManish Sood, CEO & Founder, Reltio.

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The Third Modern Data Management Summit: Making Data Work!

Reltio

The event consisted of over 40 sessions and panels featured more than 60 speakers across industries. Speakers represented life sciences, healthcare, manufacturing, retail, consumer goods, financial services, consulting services, and hi-tech. Reltio was the Diamond sponsor and host of the event. This year the event offered three tracks – Modern Data Management, Personalize Customer 360 , and Healthcare & Life Sciences. Ankur Gupta, Sr.

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UK Banks Must Produce Backup Plans for Cyberattacks

Dark Reading

Financial services firms in Britain have three months to explain how they would stay up and running in the event of an attack or service disruption

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Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

HL Chronicle of Data Protection

For example, the New York Department of Financial Services (‘NYDFS’) in March 2017 issued its Cybersecurity Regulation (23 NYCRR 500) (‘the NYDFS Cybersecurity Regulation’), a groundbreaking and far-reaching regulatory regime focused on financial institutions licensed in New York, including insurance companies. Reporting must occur within 72 hours of discovering the event.

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Digital Enterprises: Built on Modern MDM

Reltio

If you missed this event, check out the video presentations here to get the latest buzz in the data management industry (Login: dd19@reltio.com | Password: berightfaster). Business Compliance Customers IT Partners B Business B Data Science B Digital Transformation B Financial Services & Insurance B High-Tech & Manufacturing B IT B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPG DataDriven19Ankur Gupta, Sr.

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How Data Science Experience improves accuracy for the insurance industry

IBM Big Data Hub

In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz. In this scenario common to the insurance industry, an organization needs to adjust its operations based on upcoming weather event and multiple weather indicators can improve forecast accuracy

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Payments and Fintech: Addressing Key EU, UK and U.S. Cybersecurity Issues

Data Matters

In recent years, there has been a massive increase in the volume of data maintained and processed by payment service providers. Senior Associate, Banking and Financial Services Practice, London. Cybersecurity European Union Events GDPR International Privacy ShieldData is key to innovation, growth, and staying competitive in the payments sector.

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Ephesoft Launches Context Driven Productivity at Enterprise Productivity Summit

Info Source

The event kicked off with Ephesoft founder and CEO Ike Kavas on “Breaking Boundaries: The State of Digital Transformation,” highlighting best practices and pitfalls seen in enterprise automation projects. The event concluded with a dinner reception and show by Big Data comedian Tim Lee.

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Peter Marta, Former Global Head of Cybersecurity Law at JPMorgan joins Hogan Lovells Privacy and Cybersecurity Practice

HL Chronicle of Data Protection

Pete is an established leader in the banking and financial services sectors. News & Events Hogan Lovells partner Privacy and CybersecurityHogan Lovells announced today that Peter Marta , the former global head of Cybersecurity and Global Security and Investigations Legal for JPMorgan Chase and Co., has joined our Privacy and Cybersecurity practice as a partner. He will be based in our firm’s New York office.

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Disneyland Malware Team: It’s a Puny World After All

Krebs on Security

A financial cybercrime group calling itself the Disneyland Team has been making liberal use of visually confusing phishing domains that spoof popular bank brands using Punycode , an Internet standard that allows web browsers to render domain names with non-Latin alphabets like Cyrillic.

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(Discussion Recap) A Perfect Storm? Panel Discussion on Handling a Cybersecurity Incident

HL Chronicle of Data Protection

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.

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Webinar Invitation — Operationalizing the California Consumer Privacy Act

HL Chronicle of Data Protection

News & Events CaCPA California California Consumer Privacy Act CCPA operationalize webinarPlease join the Hogan Lovells Privacy and Cybersecurity team and LexisNexis on June 19 for the webinar, Operationalizing the California Consumer Privacy Act – Key Decisions and Compliance Strategies. The California Consumer Privacy Act of 2018 (CCPA) has been described as groundbreaking, watershed, and unprecedented since its passage on June 28, 2018.

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Webinar Recording Available on the NYDFS Regulations

Hunton Privacy

Sotto on the new cybersecurity regulations from the New York State Department of Financial Services (“NYDFS”). The NYDFS regulations impose significant cybersecurity requirements on impacted businesses that will dictate how they plan for, respond to and recover from data security events. Sotto points out that these regulations will “affect companies far and wide,” including “any vendor that touches a New York banking, insurance or financial organization.”.

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The New Cybersecurity Landscape: What the NYDFS Regulations Really Mean for Your Business

Hunton Privacy

Sotto on the new cybersecurity regulations from the New York State Department of Financial Services (“NYDFS”). The NYDFS regulations will impose significant cybersecurity requirements on impacted businesses that will dictate how they plan for, respond to, and recover from data security events. Cybersecurity Events Financial Privacy Security Breach U.S.

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NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches

Hunton Privacy

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.

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NYDFS proposes significant cybersecurity regulation amendments

Data Protection Report

On November 9, 2022, the New York Department of Financial Services (NYDFS) officially proposed changes to its cybersecurity regulation and opened a 60-day public comment period. Notice of Cybersecurity Event.

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NYDFS Fines EyeMed $4.5 Million for Cybersecurity Violations

Hunton Privacy

On October 18, 2022, the New York State Department of Financial Services (“NYDFS”) announced that EyeMed Vision Care LLC (“EyeMed”) agreed to a $4.5

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Vermont Enacts Insurance Data Security Law

Hunton Privacy

Unlike other state laws based on MDL-668, however, the Vermont Insurance Data Security Law declines to establish separate cybersecurity event notification requirements for licensees. Cybersecurity Event Investigation and Notification Requirements.

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Fiserv and Rippleshot Announce Card Fraud Detection Partnership

Rippleshot

Fiserv, a global provider of financial services technology solutions, announced its partnership with Rippleshot to offer Card Risk Office? Fraud Warning, an early breach detection solution that allows financial institutions to identify potential fraud events 30-60 days prior to network alerts.

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ICYMI – Late December in privacy and cybersecurity

Data Protection Report

to report this event to the Department within 72 hours of its being discovered.”) Late December and early January tend to be a busy time for everyone, so you may have missed a privacy update or two during that time.

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NYDFS settles cybersecurity regulation matter for $3 million

Data Protection Report

On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. The regulation requires that a licensee report a cybersecurity event to NYDFS within 72 hours of its determination of the event.

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Market Leading Cybersecurity and National Security Lawyers David Lashway and John Woods Join Sidley in Washington, D.C.

Data Matters

Sidley’s Privacy and Cybersecurity practice has been involved in many of the most complex cyber events in recent years from Yahoo! He is one of the few lawyers who has led multiple global responses to data integrity attacks involving the financial services industry.

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Data Citizens by the numbers: Announcing our customer speakers

Collibra

This event gives us the opportunity to bring customers, data leaders, and Collibrians alike together to share best practices, challenges, and industry insights. 8 financial services customers . All financial institutions need to prepare for audits and new regulations.

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MyPayrollHR CEO Arrested, Admits to $70M Fraud

Krebs on Security

On Monday, the CEO was arrested and allegedly confessed that the diversion was the last desperate gasp of a financial shell game that earned him $70 million over several years. That action set off a chain of events that led another financial institution that helps MyPayrollHR process payments to briefly pull almost $26 million out of checking accounts belonging to employees at more than 1,000 companies that use MyPayrollHR.

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