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Volume 31, Issue 4

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Tuesday, 11 September 2018 14:45

New York’s Bold Move To Improve Cybersecurity

Could It Have A Bigger Impact Than More Famous Legal Siblings?

The California Consumer Privacy Protection Act and the GDPR went into effect earlier this year, and New York state is following suit; last week marked the compliance deadline for the NY DFS cybersecurity regulations. Compared to the broad provisions of the GDPR and CPPA, the New York regulation makes clear that efforts to improve cybersecurity are not an option. James Lee, Executive Vice President of Waratek, discusses.

When the history of summer 2018 is written, the chapter on data protection and privacy will be dominated by the EU’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act of 2018 (CaCPA – aka California GDPR).  Both represent a seismic shift in how the business community manages and protects consumer information, and both – if you read the fine print – will ultimately force more action on cybersecurity.

Less attention has been paid to the September 4, 2018 compliance deadline for New York’s Department of Financial Services Cybersecurity Regulations (23 NYCRR 500). Yet, in practical terms, the New York regulations have a far more immediate impact on businesses and greater potential to improve cybersecurity outcomes that will ultimately benefit consumers.

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https://www.corporatecomplianceinsights.com/new-yorks-bold-move-to-improve-cybersecurity/