On April 13, the New York Department of Financial Services issued guidance on cybersecurity awareness during the Covid-19 pandemic. The guidance identifies three areas of heightened risk:
- Remote working, including the risks associated with less secure internet connections, expanded use of less secure personal devices, increased use of video and audio-conferencing applications, and use of unauthorized personal accounts and applications to transmit non-public information
- Increased online phishing and fraud attempts
- Increased risk to third party vendors
In accordance with the DFS’s cybersecurity regulation, all regulated entities are instructed to assess these risks and address them appropriately.
This content originally appeared in the InfoBytes blog, a collection of news and alerts covering legal and regulatory developments for the financial services industry. To read more or have the InfoBytes weekly newsletter delivered to your inbox, please visit infobytesblog.com.