Complying with the Part 500 of the New York Codes, Rules and Regulations (NYCRR)

The rise of cyberthreats across industries has challenged enterprises to meet dynamic compliance requirements. They tend to exploit network vulnerabilities to gain access to sensitive data.

The New York State Department of Financial Services (NYDFS) has witnessed the constant threats to financial institutions, their systems, and information. This can lead to significant losses to entities regulated by the NYDFS. It has become imperative for organizations to develop a cybersecurity program covering the minimum regulatory standards to match the relevant risks and keep up with the technological advances. A regulated entity’s cybersecurity program must ensure the institution’s safety and its customers.

Seclore and 23 NYCRR 500

On March 1, 2017, the New York Department of Financial Services (NYDFS) developed regulations to establish a cybersecurity program to promote the protection of sensitive data belonging to both the regulated entities and the customers. The 23 NYCRR 500 is part 500 of the overall NYDFS body of regulation.

The 23 NYCRR 500 aims to implement a cybersecurity framework to protect the sensitive data handled by various NYDFS-regulated financial entities.

Read this whitepaper to learn how Seclore can help companies comply with the NYCRR Regulations.

Four Ways How Data-Centric Security Helps Comply with 23 NYCRR 500

PROTECT CUSTOMER DATA

Keep customer data private by applying persistent protection (encryption) with granular usage controls

MANAGE 3RD PARTY RISK WITH
SECURE COLLABORATION

Protect customer data throughout its lifecycle as it is shared across user groups – employees, partners, and customers

LIMIT ACCESS PRIVILEGES AND
DATA RETENTION

Control who can access and retain what information and to what extent

TRACK AND AUDIT THE USE OF DATA

Track the use of information wherever it travels and automatically generate reports consisting of details such as the devices and IP addresses that use the information

Infographic: EDRM for Banking
Download this infographic to learn about the data-related risks faced by the banks due to insufficient data security.
Whitepaper: EDRM for Banking
Read this whitepaper to learn how the banking sector can use Enterprise Digital Rights Management for secure external collaboration.
Infographic: Incoming Data Protection
Download this infographic to learn more about the importance of protecting incoming data shared by third parties.