New Cybersecurity Regulations Take Effect In New York March 1st
A first-in-the-nation cybersecurity regulation to protect consumers and financial institutions from cyber attacks will take effect in New York on March 1st.
The regulation requires banks, insurance companies and other financial services institutions to establish and maintain a cybersecurity program to protect consumers' private data.
"New York is the financial capital of the world, and it is critical that we do everything in our power to protect consumers and our financial system from the ever increasing threat of cyber-attacks," Governor Andrew Cuomo said. "These strong, first-in-the-nation protections will help ensure this industry has the necessary safeguards in place in order to protect themselves and the New Yorkers they serve from the serious economic harm caused by these devastating cyber-crimes."