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Latest News
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NYDFS fines dental plan firm $2m in phishing breach
Failure to use MFA to protect data of 90,000 customers leads to fine and raises legal questions.
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Wise settles multi-state allegations of inadequacies in AML/CFT program
The regulators’ collaboration in this action aimed to ensure a “fair, transparent and resilient financial system that protects consumers.”
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New York fines Geico and Travelers $11.3m for data breaches
Auto insurers will pay fines totaling $11.3m for data breaches that New York officials say compromised personal information of 120,000 customers.
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NYDFS publishes industry letter on cybersecurity risk arising from AI
The guidance does not impose new requirements, it helps DFS-regulated institutions meet their existing obligations in light of evolving risks from AI.
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What can businesses expect after the US election? A few thoughts
With two months to go until America votes for its next President, we look at the potential implications for economic policy and regulation.
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NYDFS charges Nordea Bank for compliance and due diligence failures
NYDFS alleged that Nordea’s AML safeguards at its former Baltic branches failed to meet its risk for money laundering and other suspicious transactions.
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NYDFS’s new crypto business guidance for consumer complaints
NYDFS issues new “expectations” of cryptocurrency service providers for handling customer complaints.
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Fed and NYDFS order ICBC to pay $32.4m for AML, compliance program lapses
Beijing-based ICBC signs consent order to resolve money laundering and confidential supervisory information compliance deficiencies.