New York unveils final cybersecurity regulations



  • Add Comments
  • Print
  • Add to Favorites

Cybercriminals can cause significant financial losses for business entities as well as for  consumers whose private information may be revealed and/or stolen for illicit purposes. The financial services industry is a significant target of cybersecurity threats.

The New York Department of Financial Services unveiled the final cybersecurity regulations, which includes certain regulatory minimum standards while encouraging firms to keep pace with technological advances.

New York is the financial capital of the world, and it’s critical that we do everything in our power to protect consumers and our financial system from the ever increasing threat of cyber-attacks reports Housewire. While maintaining the structure and subject matter of the original draft proposal, the revised cybersecurity regulation attempts to provide more flexibility and company customization.

Recently, cybercriminals sought to exploit technological vulnerabilities to gain access to sensitive electronic data.

It is hence critical for all regulated institutions to move swiftly and urgently to adopt a cyber security program and for all regulated entities to be subject to minimum standards with respect to their programs reports the Security Week.
The number of cyber events has been steadily increasing and estimates of potential risk to our financial services industry are stark. Adoption of the program outlined in the regulations is a priority for New York State reports theHousng wire..

No Comments to “New York unveils final cybersecurity regulations”

add a comment.

Leave a Reply

You must be logged in to post a comment.

Read previous post:
AI
Google’s AI Duet lets you make music with a virtual pianist

Google’s latest artificial intelligence experiment is a music-playing piano bot that digests whatever keyboard melodies you give it and tries...

Close