New York Launches Cybersecurity Unit
Kade N. Olsen, Michael F. Buchanan and Craig A. Newman of Patterson Belknap write:
Today, New York’s top financial regulator, the Department of Financial Services, announced the formation of a dedicated “Cybersecurity Division.” In a news release issued earlier today, the agency said the new division “will focus on protecting consumers and industries from cyber threats ….”
Linda A. Lacewell, the agency’s acting Superintendent, explained that “[i]ncreasingly today, counterterrorism is about cybersecurity, our biggest threat and biggest challenge …” In addition, she said that “[a]s technology changes the financial services industry, regulation must evolve and DFS is evolving to meet the challenges and opportunities of the new landscape, to protect consumers, safeguard the industry, and encourage innovation.”
Read more on Data Security Law Blog.