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DFS Pursuing First Enforcement Action After Fortune 500 Company Ignores Warnings of Security Shortcomings

On Wednesday, July 22, 2020, almost three and a half years after the Department of Financial Services’ (DFS) cybersecurity regulations (23 N.Y.C.R.R. Part 500) became effective, DFS issued its first enforcement notice.

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Have Your Employees Completed the New York State Sexual Harassment Training?

The COVID-19 pandemic forced many employers to make difficult operational and personnel decisions to ensure the longevity of their business. Some businesses that were ordered to close may have been able to continue paying their employees, but many had to turn to layoffs or furloughs in order to survive.

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DFS Issues Guidance in Light of COVID-19 Cyber Risks

Last week, the New York Department of Financial Services (“DFS”) issued guidance to entities it regulates about maintaining cybersecurity awareness during the COVID-19 pandemic. Businesses have likely already seen the numerous news alerts regarding the increased risk of cyberthreats as bad actors take advantage of the upheaval caused by the current health crisis. At the end of March, the FBI reported that its Internet Crime Complaint Center had already received over 1200 complaints of COVID-19-related scams.

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Deadline Change for New York State Cybersecurity Certifications of Compliance

Entities and individuals subject to the cybersecurity regulations from the New York State Department of Financial Services (“DFS”) will see a change to this year’s filing deadlines.

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Still Searching for Meaningful Change Following Massive Data Breaches

Large business data breaches - like the one affecting 100 million Capital One credit card customers and applicants - remain commonplace, so much so that they are becoming accepted as the new normal in today’s climate of consumer dealings. They shouldn’t be.

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This website presents only general information not intended as legal advice. Although we encourage calls, letters and emails from prospective clients, please keep in mind that merely contacting Harter Secrest & Emery LLP (HSE) does not establish an attorney-client relationship between us. Confidential information should not be sent to HSE until you have been notified in writing by HSE that a formal attorney-client relationship has been established. Information sent to us before then may not be treated as confidential by HSE or the court.

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