Cybersecurity Law Report | Two Settlements Show NYDFS’ Hidden Power to Use Other States’ Breach Laws

Eight years ago, on March 1, 2017, the New York Department of Financial Services enacted its landmark cybersecurity regulation covering financial services companies, 23 NYCRR Part 500, known as “Part 500.”  Part 500 was the first state regulation to enumerate, in great detail, the elements of a cybersecurity program that a covered financial service company […]

The post 2025 State Cybersecurity Legislation Focuses on Financial Services appeared first on Alston & Bird Privacy, Cyber & Data Strategy Blog.

Our Privacy, Cyber & Data Strategy Team explores new guidance from the New York Department of Financial Services for covered entities to combat what it considers the most pressing cybersecurity risks of artificial intelligence (AI).

On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued an industry letter covering Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks (the “Industry Letter”).  The Industry Letter contains guidance for entities regulated by NYDFS (“Covered Entities”) in assessing and responding to cybersecurity risks related to the use […]

The post NYDFS Issues Guidance on Artificial Intelligence-related Cybersecurity Risks appeared first on Alston & Bird Privacy, Cyber & Data Strategy Blog.