New York DFS Announces Settlement With Insurance Company Under Cybersecurity Regulation
By EsqSocial Corporation 29/04/21
On April 14, 2021, the New York Department of Financial Services (“DFS”) announced a cybersecurity settlement with insurance company National Securities Corporation, which suffered four separate breaches, two of which went unreported in violation of 23 NYCRR § 500.17(a). The settlement not only includes a monetary penalty but also mandates increased training and implementation of security tools, and underscores the urgency of addressing cybersecurity threats and DFS’s increasing enforcement...
By: Patterson Belknap Webb & Tyler LLP