New York passed first cybersecurity legislation for banks and financial institution

downloadOn March 1, 2017, the new Cybersecurity Regulation to Protect Consumers and Financial Institutions proposed by Governor Andrew Cuomo took effect . This first-in-the-nation piece of legislation aims at protecting consumer data and financial systems from cyber-attacks of terrorist organizations and other criminal enterprises.

The Regulation requires banks, insurance companies, and other financial services institutions to maintain a cybersecurity program designed to protect consumers and New York State’s financial services industry.

See here for more information…

Cybersecurity Requirements for Financial Services Companies is available at…      Open PDF

Governor Cuomo’s announcement of new Cybersecurity Regulation is available at…

For more information, Francesca Giannoni-Crystal and Federica Romanelli

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