From: Insurance Journal
The New York State Department of Financial Services (DFS) has proposed cybersecurity regulation for financial services companies that aims to protect New York state’s financial services industry from an increasing risk of cyber attacks, Governor Andrew Cuomo announced.
The proposed regulation is the first of its kind in the U.S. It requires banks, insurance companies and other financial services institutions that are regulated by the Department of Financial Services (DFS) to establish and maintain a cybersecurity program designed to protect consumers and ensure safety within New York’s financial services industry, according to a DFS press release.
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