Addressing the Vertical – Cybersecurity in All Directions

And So, It Grows

First, it was a widespread, if not generic, notion – you need to protect your personal information.  Then we began to call it cybersecurity, and it was applicable to your business as well.  It was still a concept that blanketed data generically – the overall message was that you need to protect all of the data.  Change passwords, use firewalls.  Do you have an anti-virus installed?

Then we started to see different states identify regulations for putting cybersecurity standards in place.  HIPAA addresses security on a federal level to a degree, but not enough and not with complete coverage, as we are seeing with the various breaches that occur in the healthcare industry.

Now we’re addressing it in a more targeted and specific manner, addressing verticals within the business markets.  Recently the state of NY created a cybersecurity division that is tasked with protecting consumer and industries from cyber threats.  It is said to be the first of its kind for a banking or insurance regulator.  With increasing threats to the financial services industry, the creation of this department and subsequent leadership role of Justin Herring were a necessity.

Reverse Attack

Herring will be tasked with enforcing DFS cybersecurity regulations, acting in an advisory role, providing guidance, and conducting investigations.  His department will also act in a preventative role by informing the public and coordinating existing content and information about cybersecurity.

This initiative comes to New York just two years after Governor Cuomo established a cybersecurity regulation that sets requirements for security to protect the financial and consumer industry.