The NYS DFS (New York State Department of Financial Services) announced 23 New York Code Rules and Regulations 500 (23 NYCRR 500), a cybersecurity parameter for all financial establishments conducting business in New York City.
The NYS DFS (New York State Department of Financial Services), declared 23 New York Code Rules and Regulations 500 (23 NYCRR 500), a cybersecurity regulation for financial service organizations doing business in New York state.
Because of the increasing sophistication of cyber attacks over recent years, the NY Department of Financial Services (NYDFS) propagated 23 NYCRR 500, a law establishing cybersecurity requirements for financial service firms.
The threat of cyberattacks has been growing tremendously, because of which businesses operating in the financial and insurance industries in New York have been mandated to establish stronger cybersecurity programs.
