This week, the Department of Financial Services announced the first charges for violations of Reg 500, aka the Cyber Regulation. The Department alleges a laundry list of violations by First American Title Insurance Company, which resulted in the exposure of millions of customer documents.
We have long speculated and advised you that DFS will not take violations of the Cyber Regulation lightly. Now, we have a bit more clarity: in this case, DFS holds that each instance of exposed customer information carries up to a $1,000 fine. Need a reason make sure your agency is in compliance? The DFS just gave you a billion reasons.
The good news: Big I NY has your back with a full suite of compliance tools to make sure your customer data stays safe. Plus, Big I NY members receive a 5% discount on cybersecurity consulting services from LCG.
With more employees working from home, cybersecurity risks are on the rise. It’s more important than every to ensure your customer data is safe and secure.