February 19, 2017 By Pierluigi Paganini
The New York state announced that a set of cyber security regulations that will take effect on March 1st to tackle cyber threats.
On Thursday, the New York state announced that a cyber security regulation will take effect on March 1st. The regulations will require financial institutions and insurers to meet minimum cyber security standards and report cyber incidents to regulators.
The organizations subject to the new cyber security rules include both state-chartered banks and foreign banks operating in the New York state, along with any insurer that works in the state.
The measures are necessary to mitigate the risk of exposure to cyber crime organization and other threat actors.
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