About Us | Contact Us
View Cart

New York to Impose New Cybersecurity Regulations

By Vigilize | Tuesday, March 14, 2017 - Leave a Comment

The controversial new regulations are the first in the nation, and may not be the last…


An article review.


ServIcons_ITAudit_01

On March 1 New York State became the first in the nation to impose its own cybersecurity regulations on banking institutions.

Though banking institutions have 180 days to come into compliance, there are complaints that the regulations place a burden on the institutions and that there hasn’t been enough time to consider them. These complaints were echoed by the American Banker’s Association, which adds that these new regulations may come into conflict with Federal cybersecurity regulations.

The regulations themselves include the requirement that banks have a CISO or Chief Information Security Officer, and that they report cybersecurity related incidents within 72 hours. Additionally, annual penetration tests, risk assessments and encryption of data in transit and at rest are included in the regulations. Institutions will have to submit a letter certifying compliance to New York State every year.

As the financial capital of the world, many are watching to see what impact these regulations may have–and if they are effective we may see other states following New York’s lead, meaning these regulations are worth a second look no matter where you do business.


Original article by Jeremy Kirk writing for Data Breach Today.


same_strip_012513


 

Latest News
    Our Lead Non-Technical Auditor takes a look at the new AIO Guidance… Architecture, Infrastructure, and Operations (AIO) is the latest booklet released by the Federal Financial Institutions Examination Council (FFIEC) in their line of  IT Examination Handbooks. It is an update to their 2004 Operations booklet and, as the name implies, expands into the areas […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    Many organizations still fail to consider the unique risks posed by cloud computing… An article review. Last month thousands of Western Digital MyCloud device owners learned about the risks of cloud-based solutions the hard way: their data had been wiped remotely due to a flaw in the internet-facing component of their external hard drives. While […]
    infotex does not use Kaseya… We are protecting our Clients! Another blog post meant to inspire thought about IT Governance . . . . To all infotex managed security service Clients: As you may be aware there was a large ransomware attack recently that leveraged a remote management tool called Kaseya that is used by many […]
    While we’re not a news service, we often use current events to comment on trends and our services. This blog is intended to get people thinking about topics and trends in Technology Risk Management, through our article reviews, as well as through original blog articles about current events and our MSSP services (such as our […]
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS Dan Hadaway and Sara Fultz co-wrote an article in the Spring 2021 issue of the Ohio Record, the Official Magazine of the Ohio Bankers League.  Find out on page 20 and 21 of the magazine how tabletop testing strengthens bank cybersecurity. You can read the article here! […]
    You’ve heard it from every MSSP you’ve met: the definition of a SIEM is in the eye of the beholder. But at infotex, we are not talking about the database – an asset whose definition is continuously evolving. We’re talking about the way three teams collaborate in an overall Technology Risk Monitoring process. And whether […]
    After the large number of high-profile breaches in the recent months, it is easy to become disconcerted about how to prevent such things from happening to your Bank. The answer to preventing a breach is a very complex one. infotex will explore this with you! The heightened level of awareness and extra protective tendencies that […]
    A follow-up on Dan’s 2008 Password Manifesto On the NIST Publication on Digital Identity Guidelines Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . In June 2017, NIST released a special publication on digital identity, NIST SP 800-63, that is starting to get the attention […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]