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CHINA: New draft proposes more stringent requirements for processing data in the financial services industry

DLA Piper Privacy Matters

Authors: Carolyn Bigg, Amanda Ge and Venus Cheung On July 24, 2023, the People’s Bank of China (“ PBOC ”) released the Measures for the Management of Data Security in the Business Areas Falling into PBOC’s Jurisdiction (Draft for Comment) (“ Draft Measures” ) for public consultation, which closes on August 24, 2023.

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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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Security Compliance & Data Privacy Regulations

eSecurity Planet

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

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Top 12 Cloud Security Best Practices for 2021

eSecurity Planet

From the very beginning of the cloud computing era, security has been the biggest concern among enterprises considering the public cloud. In addition, 95 percent of survey respondents confirmed that they are extremely to moderately concerned about public cloud security. What is cloud security?

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NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches

Hunton Privacy

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.

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NYDFS Files First Cybersecurity Enforcement Action

Hunton Privacy

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. A hearing on the matter will be held on October 26, 2020 at the office of the NYDFS. NYCRR 500.14(b):

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Ransomware Protection in 2021

eSecurity Planet

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. All of your files are encrypted with RSA-2048 and AES-128 ciphers.” Attackers will inform the victim that their data is encrypted. IMPORTANT INFORMATION !!! Screenshot example.