Four New Cybersecurity Regulations Companies Need to Know

In a recent interview published by Buffalo Business First, HSE attorney Daniel J. Altieri discusses recent updates to cybersecurity regulations by the New York State Department of Financial Services (DFS), affecting companies with banking or insurance licenses. Altieri emphasizes the broad reach of these regulations, extending to businesses such as car dealerships that sell roadside hazard insurance. Key amendments include specific provisions addressing ransomware attacks, requiring companies to notify DFS within 24 hours of making payments to attackers and justifying the payment, reflecting a heightened focus on accountability and visibility in the face of an evolving threat landscape.

Read the Full Article.

Attorney Advertising. Prior results do not guarantee a similar outcome. This publication is provided as a service to clients and friends of Harter Secrest & Emery LLP. It is intended for general information purposes only and should not be considered as legal advice. The contents are neither an exhaustive discussion nor do they purport to cover all developments in the area. The reader should consult with legal counsel to determine how applicable laws relate to specific situations. ©2024 Harter Secrest & Emery LLP