First American Title Insurance Company has become the first firm to face charges alleging violations of the New York State Department of Financial Services’ Cybersecurity Regulation.
When it was first proposed in 2016, the stated aim of New York’s first-in-the-nation Cybersecurity Regulation, which took effect in March 2017, was to protect against the ever-growing threat of cyber-attacks. The regulation requires banks, insurance companies, and other NYDFS-regulated financial services institutions to establish and maintain a cyber-security program designed to protect consumers and ensure the safety and soundness of the financial services industry.
