News & Analysis as of

Multi-Factor Authentication Enforcement Actions

Alston & Bird

Cybersecurity Controls: What Do Regulators Expect Nowadays?

Alston & Bird on

Our Privacy, Cyber & Data Strategy Team highlights the increasingly specific cybersecurity controls identified by regulators, explains why these enhanced cybersecurity controls have become the focus of regulators, and shares...more

Wyrick Robbins Yates & Ponton LLP

Something Old, Something New: Latest NYDFS Cybersecurity Regulation Enforcement Action Emphasizes Policy Implementation, Training,...

The New York State Department of Financial Services recently announced that it has entered into a consent order with PayPal, Inc. for violations of the NYDFS Cybersecurity Regulation. The consent order, under which PayPal has...more

Goodwin

New York Department of Financial Services Reaches $2,000,000 Settlement with Peer-to-Peer Payment Platform

Goodwin on

On January 23, 2025, the New York Department of Financial Services (DFS) announced that it reached a $2,000,000 settlement as part of a broader consent order with a peer-to-peer payment platform (“P2P”) about its...more

Bracewell LLP

Personal Devices and Messaging Platforms in the Workplace: Tips, Tactics and Best Practices for In-House Counsel

Bracewell LLP on

Federal regulators have cracked down on the use of texts messages and messaging platforms for business communications, using their broad authority to root out record retention violations, resulting in significant fines and...more

Rothwell, Figg, Ernst & Manbeck, P.C.

FTC Actions Hold Data Privacy Lessons For 2023

The Federal Trade Commission will have its eye on privacy and data security enforcement in 2023. In August, the agency announced that it is exploring ways to crack down on lax data security practices. In the announcement,...more

Akin Gump Strauss Hauer & Feld LLP

New York Department of Financial Services Issues Millions of Dollars in Penalties, Signaling Increased Cybersecurity Enforcement

On April 14, 2021, the New York Department of Financial Services (DFS) announced it settled an enforcement action against National Securities Corporation (“National Securities”) related to claims under the Cybersecurity...more

BCLP

NYDFS Imposes Heavy Fine and Adopts Expansive View of Multi-Factor Authentication Requirements Under Cybersecurity Regulations:...

BCLP on

The New York Department of Financial Services (NYDFS) recently announced the resolution, through Consent Order, of its third enforcement action against entities subject to the agency’s Cybersecurity Regulations (“Cyber...more

BCLP

Lessons Learned from New York’s Second Cybersecurity Action

BCLP on

The New York Department of Financial Services (NYDFS) has announced its second regulatory enforcement action against a regulated entity (a New York licensed mortgage banker and loan servicer) for violating NYDFS’s...more

Sunstein LLP

FTC Unfriends Facebook But Wants to Stay in Touch

Sunstein LLP on

The Federal Trade Commission announced its settlement with Facebook on the same day that Robert Mueller testified before the House Judiciary Committee. While this may have been calculated to take Facebook off the front page,...more

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