Articles by tag "risk-policies"

It is critical for all regulated institutions that have not yet done so to move swiftly and urgently to adopt a cybersecurity program and for all regulated entities to be subject to minimum standards with respect to their programs.

The law will produce large penalties if your company is found not in compliance and Digital Edge’s Solution is here to help avoid those hefty fines.  

To Do List:

1. Determine if you are regulated; to see how please click here.
2. Determine if you are eligible for any of the 5 possible exemptions; to review the exceptions click here.
3. If you are eligible for exemption, you must file the Cyber Security Notice of Exception by September 27, 2017. 
4. Depending on your exemption category, you may still need to build a cyber security system. Click here to see how Digital Edge can help you. 
5. By August 28, 2017, covered entities must be in compliance. 
6. February 15, 2018, covered entities must submit first Certification of Compliance. 
    

On March 1, 2017, the New York State Department of Financial Services’ (DFS) mandatory cybersecurity requirements for financial services entities became effective, with implementation to occur within 180 days (August 28, 2017). Let the Digital Edge Cybersecurity Team keep your business in compliance!

At a high level, the regulation requires that all covered entities:

• Conduct a documented risk assessment
• Establish a risk-based cybersecurity program
• Adopt a written cybersecurity policy
• Designate a qualified CISO
• Implement written third-party cyber risk policies
• Establish a written incident response plan
• Notify the superintendent of DFS of any cybersecurity events
• Submit an annual certification of compliance

It is critical for all regulated institutions that have not yet done so to move swiftly and urgently to adopt a cybersecurity program and for all regulated entities to be subject to minimum standards with respect to their programs.  To learn more about this mandatory compliance regulations, please read our most recent whitepaper entitled “DFS Compliance – Mandatory  Cybersecurity Regulations” 
 
Digital Edge DFS Cybersecurity Solution
 
The Digital Edge Cybersecurity Team is well-versed in the DFS regulation.  We are ready to help companies mitigate risk and ensure compliance with all aspects of the DFS regulation! Contact us today to further explore how our team can provide your business with an unparalleled cybersecurity solution, with our continued focus on Stability, Security, Efficiency and Compliance.