NY Department of Financial Services Issues Guidance to Regulated Entities Regarding Cybersecurity During the COVID-19 Pandemic
The New York Department of Financial Services has issued guidance to all entities covered under its cybersecurity regulation, regarding heightened cybersecurity risks due to the COVID-19 pandemic. In asking them to address risks “appropriately,” it reminds institutions to submit to the agency plans “to address operational risks posed by the outbreak of a novel coronavirus,” including “assessment[s] of potential increased cyber-attacks and fraud.” The guidance identifies remote working, increased phishing and fraud, and third-party risk as areas of heightened risk, and recommends measures to address them.
