News & Analysis as of

Cyber Attacks Cybersecurity Framework NYDFS

Akerman LLP - Health Law Rx

NYDFS Highlights Strategies to Combat AI Cybersecurity Risks

The increased use of artificial intelligence (AI) in the banking, insurance, and financial services industries has led the New York State Department of Financial Services (NYDFS or Department) to publish an Industry Letter on...more

Mayer Brown

New York State Department of Financial Services Issues Industry Letter on Cybersecurity Risks Arising from Artificial Intelligence

Mayer Brown on

BACKGROUND - On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter, Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks,...more

Saul Ewing LLP

New York Department of Financial Services Guidance on AI-Related Cybersecurity Risks

Saul Ewing LLP on

On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued guidance and strategies (“Guidance”) concerning cybersecurity risks that arise in response to the advancements in artificial intelligence...more

Hogan Lovells

New York regulator issues cyber insurance risk framework with implications for insurers and insureds

Hogan Lovells on

On February 4, the New York Department of Financial Services (NYDFS) released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk Framework (Framework) for insurers that write cyber insurance....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - September 2018

Robinson & Cole LLP on

We reported last week that a spyware maker recently compromised users’ and victims’ sensitive information. Since that time, another spyware maker, mSpy, which holds itself out as having over a million users employing its...more

Cadwalader, Wickersham & Taft LLP

Proposed Federal Cybersecurity Regulations for Financial Institutions Face an Uncertain Future

Last year’s proposed comprehensive framework for cybersecurity rules for large financial institutions is suddenly facing an uncertain future. With the comment period having closed as of February 2017, the framework was facing...more

Mintz - Privacy & Cybersecurity Viewpoints

It’s March 1: The Cybersecurity Goal Post Has Been Moved

In an effort to combat the growing prevalence of large-scale corporate cyberattacks, the New York Department of Financial Services (“NYDFS”) is rolling out a revamped cybersecurity regulation for financial services companies...more

Hogan Lovells

2017 Resolutions for Community Banks: A Focus on Cybersecurity

Hogan Lovells on

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

Nossaman LLP

New York Department of Financial Services Delays Compliance Deadline for Cybersecurity Regulations

Nossaman LLP on

On October 25, the Privacy Law Report featured a blog post on new cybersecurity regulations being implemented by the New York Department of Financial Services (“DFS”). Those regulations impose a number of requirements on...more

Robinson+Cole Data Privacy + Security Insider

Bank Objections Play Key Role in Delay of New York Cybersecurity Regulation

The New York Department of Financial Services announced last week that it will revise and delay the effective date of its proposed cybersecurity regulation. The announcement came two days after New York bankers brought up a...more

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