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Are You Yet To Be In Compliance With 23 NYCRR Part 500

If you are yet to be in Compliance with 23 NYCRR Part 500, feel free to get in touch with CompCiti. CompCtiu2019s compliant experts will help you make sure youu2019re compliant by implementing a more productive, long-term cyber security protocol in the process. Check out https://compciti.com/23-NYCRR-part-500-compliance/ for more info<br>

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Are You Yet To Be In Compliance With 23 NYCRR Part 500

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  1. Are You Yet To Be In Compliance With 23 NYCRR Part 500 https://compciti.com/23-NYCRR-part-500-compliance/

  2. The 23 NYCRR 500 is a set of regulation regulated by the NYDFS that places new cyber security requirements on all covered financial organizations. The guidelines were introduced on 16th February, 2017 after 2 rounds of feedback from industry & the public. These rules recognize the ever-increasing risk prompted to financial systems by cyber criminals, and are implemented to make sure businesses efficiently safeguard their clients’ confidential information and data from cyber threats. This encompasses doing frequent security risk appraisals, keeping audit trails of asset use, offering protective infrastructures, sustaining procedures and policies for cyber security, and making an incident response plan.

  3. Who needs to comply with 23 NYCRR Part 500? The 23 NYCRR 500 regulations apply to any registered firm offering financial services. • State-chartered banks • Licensed lenders • Private bankers • Foreign banks licensed to operate in NY • Mortgage firms • Insurance firms • Service providers However, entities that appoint less than ten personnel, produced less than five million dollars in gross annual revenue in each of the previous 3 years, or hold less than 10 million dollars in a year-end total asset are not needed to abide by the certain requirements of the regulation. Charitable & foreign risk groups working in NY automatically obtain exclusion. However, the list of exclusion is quite short, and the majority of financial organizations in NY have to be in alignment with the requirements of 23 NYCRR 500. Read More

  4. Compciti Business Solutions Inc. 261 West 35th Street, Suite 603 New York, NY 10001 Phone: (212) 594-4374 Fax: (212) 594-6714 https://compciti.com/contact/

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