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New York Department of Financial Services Issues Millions of Dollars in Penalties, Signaling Increased Cybersecurity Enforcement | Akin Gump Strauss Hauer & Feld LLP

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On April 14, 2021, the New York Department of Financial Services (DFS) announced it settled an enforcement action against National Securities Corporation (“National Securities”) related to claims under the Cybersecurity Regulation, 23 NYCRR Part 500. The Consent Order imposes a $3 million penalty, various remediation measures and represents a flurry of cybersecurity activity by the regulator in the first quarter of 2021. Over the last two months DFS settled two enforcement actions and issued amended charges against First American, the first charges under the Cybersecurity Regulation, originally announced less than a year ago.
April 14, 2021, Settlement ....

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New York DFS Announces Settlement With Insurance Company Under Cybersecurity Regulation | Patterson Belknap Webb & Tyler LLP

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On April 14, 2021, the New York Department of Financial Services (“DFS”) announced a cybersecurity settlement with insurance company National Securities Corporation, which suffered four separate breaches, two of which went unreported in violation of 23 NYCRR § 500.17(a). The settlement not only includes a monetary penalty but also mandates increased training and implementation of security tools, and underscores the urgency of addressing cybersecurity threats and DFS’s increasing enforcement activity for non-compliance with its cyber regulations.
The settlement, one of a few just beginning to be released after the 2017 implementation of the Cybersecurity Regulation, 23 NYRR § 500, provides insurers and other companies a window into how DFS interprets and enforces this regulation. ....

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New York Department Of Financial Services Issues Millions Of Dollars In Penalties, Signaling Increased Cybersecurity Enforcement - Technology

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On April 14, 2021, the New York Department of Financial Services
(DFS) announced it settled an enforcement action
against National Securities Corporation ( National
Securities ) related to claims under the Cybersecurity
Regulation, 23 NYCRR Part 500. The Consent Order imposes a $3 million penalty,
various remediation measures and represents a flurry of
cybersecurity activity by the regulator in the first quarter of
2021. Over the last two months DFS settled two enforcement actions
and issued amended charges against First American, the first charges under the Cybersecurity
Regulation, originally announced less than a year ago. ....

New York , United States , Revenue Service , Microsoft Office , Residential Mortgage Services Inc , National Securities , Cybersecurity Program , First American Title Insurance Company , Sherriff Office , Microsoft Exchange Server , York Department Of Financial Services , Bureau Of Investigation , National Securities Corporation , New York Department , Financial Services , Consent Order , First American , Multi Factor Authentication , Cybersecurity Events , Attorney General , Internal Revenue Service , Federal Bureau , County Sherriff , Cybersecurity Regulation , Cybersecurity Incident Response Plan , Cybersecurity Risk Assessment ,

NYDFS Settles with National Securities Corp. for $3M for Violations of DFS Cybersecurity Regulations | Robinson+Cole Data Privacy + Security Insider

NYDFS Settles with National Securities Corp. for $3M for Violations of DFS Cybersecurity Regulations | Robinson+Cole Data Privacy + Security Insider
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NYDFS Settles with NSC for Violations of DFS Cybersecurity Regulations

NYDFS Settles with NSC for Violations of DFS Cybersecurity Regulations
natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.

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