Thursday, July 18 2024

The New York Department of Financial Services has issued new guidance regarding ransomware attack mitigation. The state regulator identified seven measures financial industries can take to avoid a successful attack on their data.

These measures include employee cybersecurity awareness training, vulnerability and patch management, multi-factor authentication, segregation and testing of backups of critical systems, utilizing monitoring and response programs, and ransomware incident response planning. The notice includes a recommendation to avoid making ransom payments.

The guidance comes as ransomware incidents grow more frequent and criminal groups launch increasingly sophisticated attacks. The regulator cited a report that ransomware incidents increased 300% in 2020.

NYDFS Superintendent Linda Lacewell stated that “implementing cybersecurity measures is critical to protect consumers and business lines.” She also urged the finance industry to do their utmost to stay protected in the face of the bombardment, stating that the sector could be destabilized by continued ransomware attacks.

Previous

Yehuda Lindell on Third-Party Risks: “Do they really understand and care about security?”

Next

Cybersecurity M&A and Funding Update: July 09

Check Also

Widget

Don’t Miss

Sevco Security Platform Product Review

Ellie Buscemi

What is the Sevco Security Platform? The Sevco Security Platform is a cyber asset attack service management (CAASM) product that focuses on aggregating and correlating data from across a company’s cybersecurity infrastructure to give cybersecurity professionals a better sense of what the company’s infrastructure looks like as a whole. The platform’s sources include a company’s […]

Cyber Deals: Huntress, Cyberhaven, and SpyCloud

CISOstack

Cybersecurity Surge: Top Funding Rounds and Strategic Acquisitions Fuel Growth in AI, Cloud Security, and Threat Prevention Solutions

Fidelis Elevate: A Deep Dive

Ellie Buscemi

What is Fidelis Elevate? Fidelis Elevate is an open extended detection and response (open XDR) solution focusing on network protection, endpoint security, and cyber attacker deception. The platform aims to protect various elements of a company’s infrastructure, such as devices and servers while tracking suspicious behavior and preventing access to cyber criminals. What features does […]

Partially closed laptop screen

Best Extended Detection and Response (XDR) Solutions

Lara Oporto

What is Extended Detection and Response and how does it work? Extended Detection and Response (XDR) is a cybersecurity system that gathers information from different places like computers, networks and emails. Unlike other security tools that focus on one area like computers or networks, XDR looks at everything together. The comprehensive approach helps to find […]

Close up of computer chip

Best Managed Detection and Response (MDR) Solutions

Lara Oporto

What is Managed Detection and Response? Managed Detection and Response (MDR) is a cybersecurity service that provides continuous monitoring, threat detection and incident response capabilities. MDR achieves these capabilities through the deployment of advanced technologies such as machine learning and behavioral analytics as well as analysis from security professionals. MDR is a cybersecurity service that […]

Best Hyperconverged Infrastructure Software

Ellie Buscemi

What is Hyperconverged Infrastructure and how does it work? Hyperconverged infrastructure (HCI) is a software that provides computing, storage and network operations for a company from a single point on a company’s hardware. Originally, computing, storage and network operations were divided in a company’s hardware infrastructure and potentially provided by separate vendors with different management […]