On May 1, the New York Department of Financial Services (“NYDFS” or “Department”) and a trading platform entered into a consent order to resolve deficiencies identified during examinations conducted in 2018 and 2020. The...more
6/6/2023
/ BitLicense ,
Consent Order ,
Consumer Financial Products ,
Covered Entities ,
Crypto Exchanges ,
Cryptocurrency ,
Cybersecurity ,
Enforcement Actions ,
Financial Services Industry ,
Fines ,
NYDFS ,
Policy Terms ,
Risk Assessment ,
Virtual Currency
In 2022, the stakes for data breaches grew in more ways than one. IBM reported the average cost of a data breach is up to $4.35 million. More importantly, though, regulators have zeroed in on higher-level executives and...more