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. Our previous blog post covered key proposed changes to the Cyber Regulation.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

Security Affairs

SEPTEMBER 4, 2023

A distributed denial-of-service (DDoS) attack took the site of the German Federal Financial Supervisory Authority (BaFin) down for some days. It is not clear who is behind the DDoS attack, but the media speculate that it was launched by pro-Russian hacktivists in response to the German financial and military support to Ukraine.

Financial Services 128

Financial Services Military Insurance Marketing 128

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. NYDFS: Setting a new bar for state cybersecurity regulation.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

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 71

Cybersecurity Insurance Financial Services Phishing 71

eSecurity Planet

AUGUST 9, 2022

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

Data Privacy 142

Data Privacy Compliance Privacy Security 142

Security Affairs

NOVEMBER 20, 2021

Major cybersecurity incidents are attacks that impact operations of the victims or the stability of the US financial sector. The rule was approved by the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency. The rule aims at forcing banks to quickly respond to cybersecurity incidents.

Cybersecurity 119

Cybersecurity Financial Services Insurance Ransomware 119

Data Matters

MARCH 12, 2019

Last week, the Federal Trade Commission (“FTC”) got into the act as well, releasing two notices of proposed rulemaking (“NPRM”) on potential changes to its the Standards for Safeguarding Customer Information (“Safeguards Rule”) and Privacy of Consumer Financial Information Rule (“Privacy Rule”) under the Gramm-Leach-Bliley Act.

Privacy 68

Privacy IT Information Security Insurance 68

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

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. SEC Statement and Guidance on Public Company Cybersecurity Disclosures.

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

The Last Watchdog

APRIL 3, 2019

Its customer base is comprised of eight of the top 15 banks, four of the top six healthcare insurance and managed care providers, nine of the top 15 property and casualty insurance providers, five of the top 13 pharmaceutical companies, and 11 of the largest 15 federal agencies. Users re-defined. Compliance matters. Talk more soon.

Digital transformation 140

Digital transformation Insurance Compliance Healthcare 140

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. Best Practices to Minimize Disruptions. Like an incident response plan, MFA has become a critical element of cybersecurity programs.

Cybersecurity 157

Cybersecurity Financial Services Authentication Government 157

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 104

Communications Financial Services Big data Retail 104

Security Affairs

JULY 6, 2020

Systems at Xchanging, a subsidiary of Global IT services and solutions provider DXC Technology was hit by ransomware over the weekend. Global IT services and solutions provider DXC Technology disclosed a ransomware attack that infected systems at its Xchanging subsidiary.

Ransomware 77

Ransomware Insurance Financial Services Manufacturing 77

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

Security Affairs

AUGUST 16, 2023

Other top 4 targeted industries include Manufacturing, Insurance, Technology, and Financial Services seeing 15%, 9%, 7%, and 6% of the campaign traffic respectively.” Experts warn that the Energy sector was a major focus of this campaign, followed by manufacturing, and insurance. ” continues the report.

Phishing 84

Phishing Energy and Utilities Insurance Manufacturing 84

Data Protection Report

FEBRUARY 8, 2022

In total, information for approximately 2.1 According to the settlement agreement, the threat actor obtained access to the EyeMed email account on approximately June 24, 2020 and not only obtained access to six years’ worth of information, but also began sending 2,000 phishing emails on July 1. SHIELD Act.

Passwords 98

Passwords Financial Services Authentication Insurance 98

Data Matters

APRIL 20, 2021

The Cybersecurity Guidance is directed at plan sponsors and fiduciaries regulated by the Employee Retirement Income Security Act of 1974 (ERISA) as well as plan participants and beneficiaries. 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

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

Security Affairs

APRIL 20, 2023

In 2022, the ICICI Bank’s resources were named a “critical information infrastructure” by the Indian government – any harm to it can impact national security. However, despite the critical status of bank infrastructure on the national level, the security of crucial data was not ensured. million files belonging to ICICI Bank.

Personal data 96

Personal data Phishing Risk Financial Services 96

Security Affairs

SEPTEMBER 1, 2020

The Iranian hacker group has been attacking corporate VPNs over the past months, they have been hacking VPN servers to plant backdoors in companies around the world targeting Pulse Secure , Fortinet , Palo Alto Networks , and Citrix VPNs. . ” continues the report.

Access 90

Access Financial Services Retail Insurance 90

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. Those emails came to the attention of EyeMed’s IT department and also its customers, who complained.

Cybersecurity 52

Cybersecurity Personal data Risk Financial Services 52

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

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. The certificate is to be submitted electronically at the DFS Web Portal.

Cybersecurity 40

Cybersecurity Financial Services Compliance Insurance 40

Security Affairs

APRIL 8, 2020

“Consider contacting CIFAS (the UK’s Fraud Prevention Service) to apply for protective registration. . “Consider contacting CIFAS (the UK’s Fraud Prevention Service) to apply for protective registration. Source BleepingComputer. ” continues the notification.

Ransomware 102

Ransomware Data breaches Encryption Financial Services 102

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. Additional guidance.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40

Data Matters

FEBRUARY 25, 2021

On January 28, 2021, the UK Financial Conduct Authority (FCA) published Consultation Paper CP21/3 , “Changes to the SCA-RTS and to the guidance in ‘Payment Services and Electronic Money – Our Approach’ and the Perimeter Guidance Manual” (Consultation Paper). its Perimeter Guidance Manual (PERG). Temporary COVID Guidance. Safeguarding.

Authentication 68

Authentication Paper Risk Insurance 68

HL Chronicle of Data Protection

MARCH 14, 2019

It includes general, high level elements of a security program, but lacks detailed security steps. The plan must enable FIs to promptly respond to and recover from security events affecting customer information. Finally, the plan must require evaluation and revisions to it as necessary following a security event.

Privacy 40

Privacy Risk Cybersecurity Information Security 40

eSecurity Planet

JANUARY 21, 2021

It includes multi-disciplinary risk and compliance management solutions and tools, including: IT & security risk management. LogicManager’s GRC solution has specific use cases across financial services, education, government, healthcare, retail, and technology industries, among others. IT governance and security.

Compliance 67

Compliance Risk Government Retail 67

Data Matters

OCTOBER 8, 2020

Treasury’s Financial Crimes Enforcement Network (FinCEN), OFAC is sending a clear signal that making ransomware payments with a sanctions nexus threatens U.S. national security interests and that third-party service providers that facilitate ransomware payments on behalf of a victim must consider and ensure compliance with OFAC regulations.

Ransomware 68

Ransomware Compliance Risk Government 68

eSecurity Planet

JANUARY 21, 2021

It includes multi-disciplinary risk and compliance management solutions and tools, including: IT & security risk management. LogicManager’s GRC solution has specific use cases across financial services, education, government, healthcare, retail, and technology industries, among others. IT governance and security.

Compliance 57

Compliance Risk Government Retail 57

Hunton Privacy

JULY 22, 2009

The UK Financial Services Authority (FSA) has announced today fines for three HSBC entities totaling £3 million for failing to have adequate systems and controls in place to protect their customers’ confidential data. The fine is the highest to date in the UK and reflects a 30% discount for cooperating with the FSA.

Security 40

Security Insurance Data breaches Personal data 40

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

ARMA International

AUGUST 2, 2019

According to the FTC’s press release, the data breach included “names and dates of birth, Social Security numbers, physical addresses, and other personal information that could lead to identity theft and fraud.” To that end, the settlement also requires Equifax to “implement a comprehensive information security program.”

Cloud 41

Cloud Data breaches Encryption Access 41

Hunton Privacy

JULY 31, 2014

confidential health care information. Notably, a consumer’s information qualifies as “personal identifying information” if either his or her name or the accompanying data element is unencrypted at the time of disposal.

Financial Services 40

Financial Services Insurance Privacy Paper 40

Hunton Privacy

NOVEMBER 10, 2016

Telecommunication and technology companies were the most represented respondents, followed by insurance and financial services companies, as well as pharmaceutical and healthcare companies. and less than half operate in South America and Asia.

GDPR 45

GDPR Data Privacy Compliance Privacy 45

DLA Piper Privacy Matters

AUGUST 23, 2021

Government Access to/Disclosure of Personal Information Data controllers must not provide personal information stored within China to overseas legal or enforcement authorities unless approval is obtained from a China authority. This aligns with a similar provision in the new Data Security Law.

Data Privacy 111

Data Privacy Privacy Compliance Analytics 111

Cyber Info Veritas

JULY 19, 2018

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

Risk Cybersecurity Compliance Data breaches 40