One regulation we help clients with is the New York State DFS 23 NYCRR Part 500 compliance.
Who does DFS regulate?
According to its website: “DFS is the primary regulator for all state-licensed and state-chartered banks, credit unions, and mortgage bankers and brokers. All mortgage loan servicers doing business in New York State must be registered or licensed by DFS. The Department also oversees all of the insurance companies operating in New York, licenses all of the budget planners, finance agencies, check cashers, money transmitters, and virtual currency businesses operating in New York.”
The requirements of part 500 are generally nothing out of the ordinary, or rather, nothing more than what is already considered good practice in the cybersecurity world.
POSITION ON RISK
This is the big picture. All I see today is ISO-like risks analyses that are initially made based on industrial risks. The mentality should be changed, and I don't know if it is too big of a shift from the current approach.
Michael Petrov has started a series discussing the values and beliefs of Digital Edge. In this first part, he speaks about the importance of being a perfectionist as well as the three levels of knowledge in regards to technology.
In the second part of his series, Michael Petrov discusses the importance of trust with a client as well as the different stages of trust you can build with a client.
by: Konstantin Mozgovoy