eSecurity Planet

AUGUST 9, 2022

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.

Data Privacy 145

Data Privacy Compliance Privacy Security 145

eSecurity Planet

SEPTEMBER 21, 2024

These laws aim to establish standards for securing data, ensuring privacy, and mitigating risks associated with digital information. By enforcing these regulations, governments seek to enhance the overall security posture of businesses and institutions, reduce the likelihood of cyber incidents, and promote trust in the digital ecosystem.

Cybersecurity 120

Cybersecurity Computer and Electronics Compliance Privacy 120

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

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

Insurance 70

Insurance Cybersecurity Risk Education 70

Hunton Privacy

NOVEMBER 8, 2023

On November 1, 2023, New York Governor Hochul announced that the New York State Department of Financial Services (“NYDFS”) amended its Cybersecurity Regulation applicable to covered financial institutions. Our previous blog post covered key proposed changes to the Cyber Regulation.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

IT Governance

APRIL 11, 2019

Financial services firms must do more to educate employees about cyber security, according to the FCA (Financial Conduct Authority). What should financial organisations be doing? Organisations need to make staff awareness training a board-level priority. Staff awareness training is a crucial part of this.

Retail 50

Retail Risk Education Financial Services 50

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

KnowBe4

MARCH 28, 2023

Security awareness training still has a place to play here." Email and other elements of software infrastructure offer built-in fundamental security that largely guarantees we are not in danger until we ourselves take action," Tyson writes. Get a look at THREE NEW FEATURES and see how easy it is to train and phish your users.

Phishing 83

Phishing Security awareness Insurance Cybersecurity 83

Security Affairs

AUGUST 16, 2023

Other top 4 targeted industries include Manufacturing, Insurance, Technology, and Financial Services seeing 15%, 9%, 7%, and 6% of the campaign traffic respectively.” “Email lures came in the form of updating account security surrounding 2FA, MFA, and general account security.

Phishing 93

Phishing Energy and Utilities Insurance Manufacturing 93

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

eSecurity Planet

FEBRUARY 11, 2022

The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. Read more : Top Database Security Solutions for 2022. Some enterprises may be comfortable with 99 percent of all security upgrades being made. What is Cybersecurity Risk Management?

Risk 145

Risk Cybersecurity Encryption Access 145

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. NYCRR 500.14(b):

Cybersecurity 85

Cybersecurity Risk Financial Services Insurance 85

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. Training and monitoring materials. NYDFS Cybersecurity Regulation. Readers may recall that NYDFS’ cybersecurity regulation went into effect in March of 2017.

Cybersecurity 94

Cybersecurity Financial Services Phishing Compliance 94

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.

Cybersecurity 66

Cybersecurity Financial Services Risk Compliance 66

Data Matters

APRIL 20, 2021

The Cybersecurity Guidance is directed at plan sponsors and fiduciaries regulated by the Employee Retirement Income Security Act of 1974 (ERISA) as well as plan participants and beneficiaries. Online Security Tips for plan participants and beneficiaries. Considerations for Plan Sponsors and Other Fiduciaries.

Cybersecurity 66

Cybersecurity Insurance Risk Compliance 66

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 86

Cybersecurity Privacy Insurance Risk 86

Data Protection Report

OCTOBER 23, 2024

The regulation includes elements of both the Health Insurance Portability and Accountability Act (HIPAA) and the New York Department of Financial Services (NYDFS) cybersecurity regulation. It does not include specific provisions like a HIPAA business associate agreement.

Cybersecurity 45

Cybersecurity Risk Access Financial Services 45

eSecurity Planet

JUNE 16, 2022

However, basic cybersecurity tools and practices, like patching , strong passwords , and multi-factor authentication (MFA), “can prevent 80 to 90% of cyberattacks,” said Anne Neuberger, deputy national security advisor for cyber and emerging technologies, during a White House press conference in Sept. Cyberattack Statistics. Other methods.

Ransomware 145

Ransomware Cybersecurity Phishing Encryption 145

KnowBe4

FEBRUARY 14, 2023

[link] Spear Phishing Attacks Increase 127% As Use of Impersonation Skyrockets Impersonation of users, domains and brands is on the rise, as is the use of malicious links, in response to security vendors improving their ability to detect malicious attachments. Blog post with links: [link] Are Your Users Making Risky Security Mistakes?

Phishing 81

Phishing Security awareness Compliance Risk 81

IBM Big Data Hub

FEBRUARY 14, 2024

But right now, pure AI can be programmed for many tasks that require thought and intelligence , as long as that intelligence can be gathered digitally and used to train an AI system. Generative AI can produce high-quality text, images and other content based on the data used for training. We’re all amazed by what AI can do.

Artificial Intelligence 82

Artificial Intelligence Retail Unstructured data Insurance 82

IBM Big Data Hub

FEBRUARY 23, 2024

DL models can improve over time through further training and exposure to more data. HR and internal processes: Conversational AI applications streamline HR operations by addressing FAQs quickly, facilitating smooth and personalized employee onboarding, and enhancing employee training programs. AI training is a continuous process.

Analytics 95

Analytics Artificial Intelligence Marketing Education 95

Hunton Privacy

DECEMBER 11, 2014

On December 10, 2014, the New York State Department of Financial Services (the “Department”) announced that it issued an industry guidance letter to all Department-regulated banking institutions that formally introduces the Department’s new cybersecurity preparedness assessment process.

Cybersecurity 40

Cybersecurity Financial Services Insurance Information Security 40

IBM Big Data Hub

MARCH 27, 2024

Substantial repair costs might arise, particularly impacting insurance companies. In some business sectors, such as financial services, fast-moving consumer goods and healthcare, business interruptions can have a significant detrimental impact on daily life. The solution helps farmers avoid overwatering and underwatering.

Risk 60

Risk Artificial Intelligence Agriculture Financial Services 60

IBM Big Data Hub

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 96

Insurance Digital transformation Customer Experience Cloud 96

Data Matters

MARCH 12, 2019

Over the last few years, States have enacted increasingly aggressive legislation concerning data privacy and security, raising concerns that companies will be subject to a patchwork of different standards. Aligning the Safeguards Rule with State Regimes.

Privacy 66

Privacy IT Information Security Insurance 66

eSecurity Planet

FEBRUARY 16, 2021

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. Raising awareness about ransomware is a baseline security measure. As training sessions have little influence over staff for every potential attack, it makes added security more imperative.

Ransomware 97

Ransomware Encryption Insurance Cloud 97

Ascent Innovations

MAY 17, 2018

While modern email security solutions can detect and stop emails with malicious attachments, they are still largely ineffective in detecting hyperlinks to malicious websites. They look to steal credit card numbers from financial services & insurance companies or install malware on the critical systems used by healthcare companies.

Energy and Utilities 40

Energy and Utilities IoT Mining Financial Services 40

The Last Watchdog

MARCH 13, 2019

Unfortunately, despite steady advances in malware detection and intrusion prevention systems, and much effort put into training employees to be wary of suspicious email, weaponized email and document-based malware remain as virulent as pervasive as it was two decades ago. The key takeaways: Productivity vs. security.

Systems administration 100

Systems administration Financial Services Insurance Security 100

Data Protection Report

APRIL 2, 2020

On March 10, 2020, the New York Department of Financial Services (NYDFS) issued guidance to all of its regulated institutions engaged in virtual currency business activity, requiring them to have plans for preparedness to manage the possible operational and financial risks posed by the COVID-19 pandemic.

Risk 59

Risk Communications Authentication Financial Services 59

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. Third-party service provider risk management program.

Cybersecurity 40

Cybersecurity Compliance Financial Services Risk 40

Hunton Privacy

JULY 22, 2009

The UK Financial Services Authority (FSA) has announced today fines for three HSBC entities totaling £3 million for failing to have adequate systems and controls in place to protect their customers’ confidential data. The fine is the highest to date in the UK and reflects a 30% discount for cooperating with the FSA.

Security 40

Security Insurance Data breaches Personal data 40

Rocket Software

NOVEMBER 16, 2021

Especially during a time when the IT industry is experiencing a talent shortage , modernizing these workflows can mean the difference between securing new hires and losing them to other IT sectors. No one enjoys spending their days on monotonous, repetitive work that they know automation could be doing for them.

Customer Experience 52

Customer Experience Financial Services Insurance Compliance 52

DLA Piper Privacy Matters

AUGUST 23, 2021

The PIPL also anticipates that a new publicly-available entity list may be published, listings foreign organisations to whom local China organisations may not transfer personal information, where such transfer may harm national security or public interest. This aligns with a similar provision in the new Data Security Law.

Data Privacy 111

Data Privacy Privacy Compliance Analytics 111

HL Chronicle of Data Protection

MARCH 14, 2019

The proposed changes to the Safeguards Rule add a number of more detailed security requirements, whereas the proposed changes to the Privacy Rule are more focused on technical changes to align the Rule with changes in law over the past decade. It includes general, high level elements of a security program, but lacks detailed security steps.

Privacy 40

Privacy Risk Cybersecurity Information Security 40

Data Matters

AUGUST 5, 2019

Together, the new laws require the implementation of reasonable data security safeguards, expand breach reporting obligations for certain types of information, and require that a “consumer credit reporting agency” that suffers a data breach provide five years of identity theft prevention services for impacted residents.

Cybersecurity 66

Cybersecurity Data breaches Privacy Risk 66

CGI

MAY 26, 2016

Financial institutions in the U.S. The combined and increased focus of the Securities Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC) on cybersecurity issues are indicative of U.S. Security incident response plan testing. Vendor management.

Cybersecurity 40

Cybersecurity Risk Financial Services Compliance 40

DLA Piper Privacy Matters

APRIL 2, 2020

In recent weeks, the Department of Justice , Federal Bureau of Investigation and the Department of Homeland Security have issued alerts warning of malicious cyber activity related to COVID-19. Awareness and Training. Various laws and best practices speak of the need to train network users on the latest security best practices.

Cybersecurity 52

Cybersecurity Phishing Authentication Access 52