News & Analysis as of May 18, 2025

New York

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

NY Settles With Insurer on Data Breach Rooted in Security Deficiencies

Cozen O'Connor on 3/28/2025

New York AG Letitia James settled with Root Insurance Company to resolve allegations that the company’s data security deficiencies led to a 2021 data breach involving 72,000 people, in violation of state consumer protection...more

Cybersecurity Enforcement Update: New York Department of Financial Services Announces Amended Cybersecurity Regulations and Latest...

Faegre Drinker Biddle & Reath LLP on 7/18/2023

Recent enforcement actions and announcements show that state and federal regulators are continuing to focus intensely on cybersecurity and data protection. Notably, the New York Department of Financial Services (“NYDFS”)...more

New York Sends Clear Message Crypto Exchanges and Banks Must Meet AML Obligations

Harris Beach Murtha PLLC on 1/10/2023

New York’s Department of Financial Services (“DFS”) recently announced a $100 million settlement with Coinbase, Inc., one of the world’s largest cryptocurrency exchanges, for Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”)...more

Coinbase Agrees To Settlement With New York Regulator

Shipkevich PLLC on 1/6/2023

On January 4, 2023, the New York State Department of Financial Services issued a consent order against Coinbase, a virtual currency company. Pursuant to the consent order, Coinbase will be paying a $50 million penalty to the...more

New York Department of Financial Services and National Securities Corporation Agree to $3 Million Settlement in Cybersecurity...

Faegre Drinker Biddle & Reath LLP on 4/27/2021

Earlier this month, the New York State Department of Financial Services (NYDFS) announced a settlement and consent order with National Securities Corporation (National Securities) for $3 million in connection with National...more

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