There is no shortage of guidance and frameworks for dealing with the risk of data breaches and fending off would-be hackers. What there hasn’t been, until now, is an industry-wide set of rules comparable to what New York’s Department of Financial Services has in store for financial institutions that fall under its oversight. The agency’s regulations will impose a host of new security, personnel, attestation, and reporting requirements.
The NYDFS requirements further position cyber-security as a business imperative, according to Erik Laykin. They have taken cyber-security from an IT function and placed it right in the middle of your business. It is now a cornerstone issue that needs to be addressed with visibility at the board-of-director level and throughout the organization.
Read the full article on ComplianceWeek.com.
