Friday, December 19, 2014

Regulators Increase Data Security Oversight

Financial industry cybersecurity practices are facing increased regulatory and enforcement agency scrutiny reflecting growing public concern over the security and infrastructure of financial institutions.

Regulatory agencies such as the NY Department of Financial Services as well as the Commodity Futures Trading Commission have recently stated that closer examination of the cybersecurity practices of organizations they oversee will be a priority.

"...the Department will take a close look at banks’ data breach detection abilities."
- Memorandum, NY State Department of Financial Services
In addition to reviewing cybersecurity governance practices the NY State Department of Financial Services will examine banks' data breach detection abilities. Organization seeking to proactively detect identity theft and privacy data breaches can utilize low-cost on-demand SaaS analytics services.
Learn how to proactively detect identity theft and unauthorized breaches of data privacy, even by authorized users - with no hardware and no on-site software.
Sources:
(a) Financial Industry Regulators Increase Data Security Oversight - www.InsidePrivacy.com, 12/11/2014

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