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Financial institutions will have to certify annually that their internal controls and cybersecurity practices remain up to snuff. And now that the transitional periods for implementing the cyber regulation have passed, covered institutions will need to certify that they have complied with each provision.
Financial institutions regulated by New York’s Department of Financial Services (DFS) can breathe a sigh of relief, at least temporarily. Two years after DFS’s Cybersecurity Requirements for Financial Institutions took effect, and more than three years after the cybersecurity regulation was announced, the final provision of the law became effective on March 1 of this year.
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AI Needs Its ‘Come the Jesus’ Moment
By Steve Salkin and Brett Burney
It’s time to stop the hype, stop talking up AI as if it’s the next best thing since sliced bread and prove that it’s a useful tool and technology that can actually be used in the actual practice of law.
U.S. Regulators Lift the Curtain on Data Practices with Assessment, Reporting and Audit Requirements
By Alan Friel, David Manek, Sasha Kiosse, David Farber and Colleen M. Yushchak
The assessment and audit requirements of the new generation of state data protection laws will force U.S. companies to move beyond mere window dressing and instead require them to develop fulsome data protection programs.
Artificial Intelligence Redefines Our Defense Against Cyber Threats
By Roy Hadley
The cybersecurity landscape is on the brink of a transformative shift, with predictive analytics and behavioral analysis leading the charge for more resilient and adaptive defenses.
Deep Fake of CFO on Videocall Used to Defraud Company of $25M
By Scott Warren
It appears that hackers are using AI to sift large digital data to identify more convincing approaches for their scams as well as weaknesses in weaknesses in software coding or network security.