The NYDFS cybersecurity regulation (23 NYCRR 500) mandates security requirements for financial institutions in New York State to protect against cyber threats and ensure data privacy. It applies to organizations licensed under banking, insurance, and financial services laws within New York. Compliance is assessed through cybersecurity risk assessments and evaluations of whether implemented security controls meet the regulation's standards. Key components include a cybersecurity program, incident response plan, annual certification by senior management, and regular reporting on compliance status.
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