Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Compliance

New York Department of Financial Services Launches Cybersecurity Unit

The New York State Department of Financial Services (DFS) this week announced that it has launched a new cybersecurity division whose role is to protect consumers and financial services organizations from cyber threats.

The New York State Department of Financial Services (DFS) this week announced that it has launched a new cybersecurity division whose role is to protect consumers and financial services organizations from cyber threats.

According to the DFS, this is the first time a banking or insurance regulator launches such a division. The new unit will be responsible for enforcing the DFS’s cybersecurity regulations, advising on cybersecurity examinations, issuing guidance for regulations, and conducting investigations. The cybersecurity division will also provide information on threats and trends.

Justin Herring, chief of the U.S. Attorney’s Office of New Jersey’s first Cyber Crimes Unit, will act as the new unit’s executive deputy superintendent.

Herring has been involved in several important cases, including the Newswire hacking operation, the scheme targeting SEC’s EDGAR system, the SamSam ransomware attacks on the Port of San Diego and the City of Atlanta, the Silk Road dark web marketplace, and the case of a Russian hacker who stole hundreds of millions of payment cards.

“I look forward to bringing my expertise to DFS to lead this new division to combat the growing problem of cybercrime, protect New Yorkers and their sensitive information from attacks, and ensure that DFS continues to be a leader in cybersecurity,” Herring stated.

In 2017, the DFS announced the nation’s first cybersecurity regulation to protect New York’s financial services industry and consumers from cyberattacks.

Earlier this year, New York announced the launch of a cybercrime brigade for coordinating digital law enforcement efforts. The NYC Cyber Critical Services and Infrastructure (CCSI) project is the result of a partnership between the NYPD, the Manhattan District Attorney’s Office, the New York City Cyber Command, and the Global Cyber Alliance.

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Understand how to go beyond effectively communicating new security strategies and recommendations.

Register

Join us for an in depth exploration of the critical nature of software and vendor supply chain security issues with a focus on understanding how attacks against identity infrastructure come with major cascading effects.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cybercrime

As it evolves, web3 will contain and increase all the security issues of web2 – and perhaps add a few more.

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

Cybercrime

Luxury retailer Neiman Marcus Group informed some customers last week that their online accounts had been breached by hackers.

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...