New York financial regulators unveil cyber reporting mechanism prior to compliance deadline

The New York Department of Financial Services has launched an online portal to enable financial institutions and insurers to report a cyber attack under landmark regulations that go into effect at the end of the month.

“This regulation requires all banks, insurance companies, and other financial services institutions regulated by DFS to establish and maintain a cybersecurity program designed to protect consumers’ private data and ensure the safety and soundness of New York’s financial services industry,” according to a...