Data Matters

FEBRUARY 20, 2019

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. Unlawful Discrimination.

Insurance 68

Insurance Financial Services Compliance Retail 68

Hunton Privacy

DECEMBER 4, 2023

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

Financial Services 64

Financial Services Insurance Data breaches Cybersecurity 64

Data Matters

AUGUST 19, 2020

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.

Financial Services 68

Financial Services Cybersecurity Insurance Risk 68

Krebs on Security

SEPTEMBER 27, 2019

1, 2019 to Aug. For more than a decade, MyPayrollHR worked with California-based Cachet Financial Services to process payroll deposits for MyPayrollHR client employees. NatPay said its insurance should help cover the losses it incurred when MyPayrollHR’s banks froze the company’s accounts.

Financial Services 269

Financial Services Insurance Cloud IT 269

Hunton Privacy

JULY 1, 2022

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. Since Carnival was licensed by the Department to sell insurance in NY State, it was treated as a covered entity under the Cybersecurity Regulation.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

Security Affairs

SEPTEMBER 1, 2020

“The adversary is particularly interested in exploits related to VPNs and network appliances , including CVE-2019-11510, CVE-2019-19781, and most recently CVE-2020-5902; reliance on exploits such as these lends to an opportunistic operational model.” ” reads the report published by Crowdstrike.

Access 129

Access Financial Services Retail Insurance 129

Data Matters

SEPTEMBER 4, 2019

The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The amended regulation took effect on August 1, 2019, for annuity products and will become effective on February 1, 2020, for life insurance products.

Insurance 68

Insurance Paper Risk Analytics 68

The Last Watchdog

MAY 24, 2021

billion hitting financial services organizations — an increase of more than 45 percent year-over-year in that sector. Meanwhile, threat actors’ siege on web applications surged 62 percent in 2020 vs. 2019: Akamai observed nearly 6.3 billion web attacks globally; 736 million in the financial services sector.

Financial Services 178

Financial Services Passwords Data breaches Authentication 178

The Last Watchdog

APRIL 3, 2019

I had the chance at RSA 2019 to visit with Mike Kiser, global strategist at SailPoint , an Austin, TX-based supplier of IGA services to discuss this. Today IGA tools and services are continually getting better at recognizing authorized users, be they human or not, and granting access in more granular ways. Compliance matters.

Digital transformation 140

Digital transformation Insurance Compliance Healthcare 140

The Last Watchdog

JANUARY 30, 2019

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

Risk 147

Risk Financial Services Insurance Cybersecurity 147

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 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. Affiliate #1 notified NYDFS on November 25, 2019.

Cybersecurity 71

Cybersecurity Insurance Financial Services Phishing 71

AIIM

OCTOBER 15, 2018

We have not yet seen widespread adoption of this concept in the UK, which is likely due to their common law background, not because eIDAS will become less relevant after Brexit on March 29, 2019. Allianz – a global financial services and insurance company – is one of those organizations which had to rethink their approach on e-signatures.

Compliance 112

Compliance Insurance Digital transformation Authentication 112

Krebs on Security

OCTOBER 24, 2019

1, 2019 to Aug. The Times Union reports that Mann and his company are now being sued by Pioneer Bank and a large insurance company over a $42 million loan it gave to Mann and his companies just a month before his payroll business closed up shop. But on Oct.

Communications 172

Communications Financial Services Insurance Risk 172

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. According to the consent order, the matter began when NSC reported a cybersecurity event to NYDFS on October 23, 2019. NYDFS Cybersecurity Regulation.

Cybersecurity 94

Cybersecurity Financial Services Phishing Compliance 94

The Last Watchdog

MARCH 26, 2019

Pick any company in any vertical – financial services, government, defense, manufacturing, insurance, healthcare, retailing, travel and hospitality – and you’ll find employees, partners, third-party suppliers and customers all demanding remote access to an expanding menu of apps — using their smartphones and laptops.

Security 145

Security Digital transformation Financial Services Risk 145

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

The Last Watchdog

AUGUST 22, 2019

I had an evocative discussion at Black Hat USA 2019 with Andy Byron, president of Lacework, a Mountain View, CA-based start-up that has raised $32 million in venture capital to help companies address these conflicting imperatives.

Digital transformation 147

Digital transformation Compliance Risk Security 147

Data Protection Report

FEBRUARY 8, 2022

The latter is the 2019 data security law known as the Stop Hacks and Improve Electronic Data Security (SHIELD) Act. On January 24, 2022, the New York Attorney General (AG) announced a settlement with vision-benefits-provider EyeMed Vision Care, Inc., In total, information for approximately 2.1 In total, information for approximately 2.1

Passwords 98

Passwords Financial Services Authentication Insurance 98

Hunton Privacy

JULY 24, 2020

On Wednesday, July 22, the New York Department of Financial Services (the “NYDFS”) announced that it had filed administrative charges against First American Title Insurance Co. under the NYDFS Cybersecurity Regulation , marking the agency’s first enforcement action since the rules went into effect in March 2017.

Cybersecurity 85

Cybersecurity Risk Financial Services Insurance 85

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.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40

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. See CF Disclosure Guidance: Topic No. 2, Cybersecurity (Oct. 14, 2011). 15, 2020).

Cybersecurity 68

Cybersecurity Financial Services Risk Compliance 68

Data Matters

DECEMBER 28, 2020

The National Association of Insurance Commissioners (NAIC) held its Fall 2020 National Meeting (Fall Meeting) December 3-9, 2020. NAIC Adopts the Group Capital Calculation Template and Instructions and Related Revisions to the Insurance Holding Company Act. Insurance groups will be exempt from filing a GCC if. groups to non-U.S.

Insurance 68

Insurance Paper Risk Analytics 68

eSecurity Planet

SEPTEMBER 16, 2022

In its 2021 Threat Force Intelligence Index , IBM reported that manufacturing and financial services were the two industries most at risk for attack, making up 23.2% According to FTC findings in 2019, government impostor fraud was the most-reported type of fraud. of attacks IBM handled, respectively. million in losses.

Analytics 111

Analytics Risk Authentication Financial Services 111

Info Source

JUNE 25, 2019

In this evaluation, Kofax was cited as a “Strong Performer” excelling in document automation. “We’re proud that Forrester has recognized Kofax and our Intelligent Automation platform as a Strong Performer in this DPA evaluation.

Digital transformation 53

Digital transformation Financial Services Insurance IT 53

DLA Piper Privacy Matters

FEBRUARY 28, 2022

Most incidents reported originate from the private sector ( 3,667 ), with 2,707 incidents reported from public sector organisations in Ireland such as public sector bodies, banks, insurance and telecom companies. Financial Services Sector Focus. In November, the DPC launched the revised Breach Notification Webform.

Financial Services 97

Financial Services Data breaches Personal data Compliance 97

Data Matters

MARCH 28, 2022

Department of Health and Human Service’s Office for Civil Rights (“OCR”) issued industry guidance for Health Insurance Portability and Accountability Act (“HIPAA”) regulated entities to take preventative steps to protect against some of the more common, and often successful, cyber-attack techniques. On March 17, 2022, the U.S.

Cybersecurity 88

Cybersecurity Privacy Insurance Risk 88

Data Matters

AUGUST 24, 2018

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data . The NAIC is also considering insurers’ use of big data in underwriting life insurance products.

Insurance 60

Insurance Big data e-Delivery Risk 60

Hunton Privacy

APRIL 27, 2017

Earlier this month, the New York State Department of Financial Services (“NYDFS”) recently published FAQs and key dates for its cybersecurity regulation (the “NYDFS Regulation”) for financial institutions that became effective on March 1, 2017. March 1, 2019 – the two year transitional period ends.

Cybersecurity 53

Cybersecurity Compliance Financial Services Insurance 53

The Last Watchdog

MARCH 13, 2019

This gives you an idea of the steady flow of weaponized email attacks against companies of all sizes and in all sectors, with certain verticals, namely financial services, healthcare companies and tech firms bearing the brunt. Employees today receive mixed messages.

Systems administration 100

Systems administration Financial Services Insurance Security 100

Thales Cloud Protection & Licensing

DECEMBER 23, 2019

According to the 2019 Thales Data Threat Report-India Edition , digital transformation is well underway in India, with 41% of Indian respondents saying they are either aggressively disrupting the markets they participate in or embedding digital capabilities that enable greater organizational agility.

Digital transformation 15

Digital transformation Cloud Encryption Data Privacy 15

KnowBe4

MARCH 28, 2023

Strategies include: Developing a comprehensive, defense-in-depth plan Technical controls all organizations should consider Gotchas to watch out for with cybersecurity insurance Benefits of implementing new-school security awareness training Best practices for creating and implementing security policies Get the E-Book now! In 2022, the U.S.

Phishing 87

Phishing Security awareness Insurance Cybersecurity 87

Data Matters

OCTOBER 8, 2020

September 2019: the North Korea-sponsored Lazarus Group, creator of WannaCry 2.0. December 2019: Evil Corp and its leader Maksim Yakubets, creators of Dridex. financial institutions or firms that perform “critical financial services.”. December 2016: Evegeniy Mikhailovich Bogachev, creator of Cryptolocker.

Ransomware 68

Ransomware Compliance Risk Government 68

Info Source

JULY 16, 2019

July 16, 2019 – ABBYY , a global leader in Content IQ technologies and solutions, today announced it has opened a regional office in Hong Kong to strengthen its relationships with enterprise-level customers and partners in the market. billion in 2019, an almost 80% increase over 2018, and $15.06 MILPITAS, Calif., billion in 2022.

Customer Experience 40

Customer Experience Financial Services Marketing Retail 40

eSecurity Planet

FEBRUARY 16, 2021

Healthcare and financial services are the most attacked industries. In 2019, Danish company Demant paid $85 million after losing access to 22,000 computers in 40 countries. In 2019, the municipal government of New Orleans was forced to declare a state of emergency and paid over $7 million. Ransomware facts.

Ransomware 97

Ransomware Encryption Insurance Cloud 97

Info Source

MARCH 6, 2019

March 6, 2019 – ABBYY, a global leader in enterprise content IQ technologies and solutions, today announced it achieved 15% revenue growth in 2018, building upon the momentum from an exceptional 2017. MILPITAS, Calif., ABBYY’s ability to deliver content IQ skills for the new digital workforce was one of the key growth drivers.

Unstructured data 49

Unstructured data Digital transformation Marketing Financial Services 49

Info Source

APRIL 2, 2019

Milpitas, CA – April 2, 2019 – ABBYY, a global leader in Content IQ technologies and solutions, today. Milpitas, CA – April 2, 2019 – ABBYY, a global leader in Content IQ technologies and solutions, today. The new platform can be leveraged by enterprise companies in financial services. billion in 2019 and $2.9

Artificial Intelligence 40

Artificial Intelligence Digital transformation Insurance Financial Services 40