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New York Delays Implementation of Cybersecurity Mandate by Two Months

, New York Law Journal

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Implementation of a new regulation requiring financial services companies to establish broad safeguards against cyberattack is being pushed back two months until March 1 after banks and insurers complained that it was impossible.

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Originally appeared in print as NY Delays Start Date for New Financial Cybersecurity Rules

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  • Anonymous

    "the narrowing of the reporting requirement to only those incidents that appear to have actually caused breaches of security will reduce the obligations of companies and the record-keeping responsibilities of the financial services department." Everyone is looking for a reduction of obligations and responsibility... When you are dealing with people‘s finances and personal information there should not be a " minimum cyber security standard" it should be stringent and mandatory on every level. I want to be comfortable knowing my information is iron clad in the hands of my institution or other entity...not minimally and by reduced regulation. If so, do not use technology if you are not willing to use it appropriately. Cyber crimes is the fastest growing crime in America and a lazy, non- committal approach to protecting our data is not the answer. It is literally cyber crime anarchy and our departments in charge need to acknowledge this and take appropriate action. Hire the appropriate technicians to prevent these breaches to begin with. Let‘s wait until it‘s way out of control like it is now to prepare for new regulations that should have been regulated to begin with. Cyber crime seems to be a crime of opportunity in which the victims are blamed and not compensated or acknowledged. They are left to navigate the waters themselves. Until it happens to one of our leaders minimal action is taken and even then the "Russians" or " China" will be blamed. There needs to be accountability now.

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