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If you reside in, or run a business covered by banking Law, Insurance Law or the Financial Services Law in New York state. Then 2020 could be an interesting year from a cyber security and data protection perspective. NYDFS, the cyber regulation aimed at covered entities and SHIELD, the states answer to personal data protection come into force and will likely get tested in court.
The state has been preparing to enforce NYDFS, setting up it’s cyber enforcement division in 2019. Which one can only assume means its getting ready to provide oversight of NYDFS and any enforcement actions. SHIELD comes into force in March, with a focus on data belonging to New York residents and the development, implementation, and maintenance of safeguards to protect private information. A task many companies globally have found hard to do.
Who will be the first over the line?
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