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Data Recovery Software Market Analysis, Growth Forecast, Industry Trends, Business Revenue and Impact of COVID-19

Earlier this year, a data retention law passed by the Belgian government was overturned by the country's Constitutional Court. The...

Monday, April 12, 2021 On March 1, 2017, the New York State Department of Financial Services (“NYDFS”) Cybersecurity Requirements for Financial Services Companies (the “Cybersecurity Regulation”) became effective. [1] Fast forward four years, where NYDFS issued its first penalty under the Cybersecurity Regulation arising from a standard examination. On March 3, 2021, NYDFS entered into a Consent Order with Residential Mortgage Services, Inc. (“RMS”) that requires RMS to pay a penalty of $1.5 million after a standard examination uncovered an unreported email compromise i...

Transitional Periods (23 NYCRR 500.22), and Severability (23 NYCRR 500.23). Enforcement Action On March 3, 2021, NYDFS entered into a consent order with RMS under the New York Banking Law. The NYDFS enforcement action commenced from a routine examination that started in March 2020, which uncovered the fact that RMS had experienced an email compromise in March 2019 where an RMS employee with a significant amount of individuals’ personal information stored in their email account was not investigated nor was notification to individuals or regulators provided. Further, NYDFS identified in its e...