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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

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.

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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Authorized property/casualty insurers should use a data-driven and comprehensive plan to assess gaps and vulnerabilities in the cybersecurity of their insureds and potential insureds. Rigorously Measure Insured Risk. 1 See W.B.

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Russia-linked GRU Unit 29155 targeted critical infrastructure globally

Security Affairs

The FBI, CISA, and NSA linked threat actors from Russia’s GRU Unit 29155 to global cyber operations since at least 2020. Since 2020, the unit has expanded into offensive cyber operations aimed at espionage, reputational harm, and data destruction. These operations include espionage, sabotage, and reputational damage.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

Regulatory compliance and data privacy issues have long been an IT security nightmare. And since the EU’s General Data Protection Regulation (GDPR) took effect May 25, 2018, IT compliance issues have been at the forefront of corporate concerns. GDPR-style data privacy laws came to the U.S. Healthcare Data Privacy Laws.

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NY Department of Financial Services Issues Guidance to Regulated Entities Regarding Cybersecurity During the COVID-19 Pandemic

Hunton Privacy

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

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Morgan Stanley discloses data breach after the hack of a third-party vendor

Security Affairs

The American multinational investment bank and financial services firm Morgan Stanley discloses a data breach caused by the hack of an Accellion FTA server of a third-party vendor. Guidehouse advised us that data that it maintained for Morgan Stanley had been accessed through the Accellion FTA vulnerability.”

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Navigating the EU-US Data Protection Framework

Thales Cloud Protection & Licensing

Navigating the EU-US Data Protection Framework sparsh Thu, 01/11/2024 - 05:26 On 10 July 2023, the European Commission adopted a new adequacy decision regarding the Data Privacy Framework (“DPF”). This follows the invalidation of the EU-US Privacy Shield, by the Court of Justice of the European Union on 16 July 2020.