The New York Department of Financial Services has updated its Part 500 regulations. These rules affect any financial institution operating in New York. The update requires "Class A" companies to undergo independent audits of their security systems. Even smaller firms must now implement more frequent vulnerability scans. The goal is to move from reactive security to proactive defense.
One key change involves password security. The NYDFS now strongly prefers hardware security keys over text-message codes. Text messages are vulnerable to "SIM swapping" attacks. Hardware keys provide a physical layer of protection that hackers cannot bypass remotely. We can help you transition your team to these more secure methods. Staying ahead of NYDFS requirements keeps your license safe and your client trust high. Use this month to audit your access logs and remove any inactive user accounts. Our team can perform the required vulnerability scans to keep you in good standing with the NYDFS. Schedule your scan with us this week.