New York Launches Cybersecurity Unit

guest · May 23, 2019

New York Launches Cybersecurity Unit
May 22, 2019
https://www.pbwt.com/data-security-law-blog/new-york-launches-cybersecurity-unit/

Today, New York’s top financial regulator, the Department of Financial Services, announced the formation of a dedicated “Cybersecurity Division.” In a news release issued earlier today, the agency said the new division “will focus on protecting consumers and industries from cyber threats ….”

Linda A. Lacewell, the agency’s acting Superintendent, explained that “ncreasingly today, counterterrorism is about cybersecurity, our biggest threat and biggest challenge …” [...] DFS is evolving to meet the challenges and opportunities of the new landscape, to protect consumers, safeguard the industry, and encourage innovation.”

According to the press release, the new unit is the “first of its kind to be established at a banking or insurance regulator” and will enforce the agency’s cybersecurity regulation, advise on cybersecurity exams, issue guidance on DFS’s cyber regulation and conduct cyber-related investigations.

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