New York’s cybersecurity regulation applies to banks, insurers, money transmitters and other entities licensed by the Department of Financial Services. We build and run the program, provide CISO leadership and prepare your annual certification.
Program areas
23 NYCRR Part 500 requires a risk-based cybersecurity program, a CISO, written policies approved by senior governance, MFA, asset inventory, encryption, vulnerability management, incident response and business continuity plans, timely notice of cybersecurity events, and an annual certification or acknowledgment to DFS.
The November 2023 amendment phased in stricter requirements, including expanded MFA, asset inventory and additional obligations for larger “Class A” companies through 2025.
State-chartered and licensed institutions.
Insurers, brokers and agents licensed in New York.
Virtual currency, lending and payment licensees.
Two hours on scope, exemptions, timeline and process.
Program assessment against every section of Part 500.
vCISO, policies, MFA, inventory, logging, 24×7 SOC and incident response.
Evidence and documentation for your yearly DFS filing.
Any person or entity operating under a license, registration, charter or similar authorization under New York banking, insurance or financial services law, unless an exemption applies.
You need a qualified CISO, who can be provided by an affiliate or a third-party service provider such as a Digital Edge virtual CISO.
Covered entities file their certification of compliance or acknowledgment of noncompliance by April 15 each year.
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Questions about NYDFS 500 compliance? Book a 30-minute alignment call. We map your gaps against the frameworks you answer to and show what the first 30 days with Digital Edge look like.