{"id":1035,"date":"2017-02-16T09:41:53","date_gmt":"2017-02-16T15:41:53","guid":{"rendered":"https:\/\/fuseanalytics.com\/?p=1035"},"modified":"2021-09-23T16:23:12","modified_gmt":"2021-09-23T20:23:12","slug":"cybersecurity-regulation-impact-on-hr-and-payroll","status":"publish","type":"post","link":"https:\/\/fuseanalytics.com\/cybersecurity-regulation-impact-on-hr-and-payroll\/","title":{"rendered":"Cybersecurity Regulation Impact on HR and Payroll"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”3.22″ global_colors_info=”{}”][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_post_title meta=”off” featured_image=”off” text_color=”light” _builder_version=”4.0.4″ title_font_size=”40px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” global_module=”1646″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_post_title][et_pb_text _builder_version=”4.10.8″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]The NY Department of Financial Services has proposed sweeping security regulations taking effect March 2017 for all financial services organizations operating in New York State:<\/span><\/p>\n

\u201cIt is critical for all regulated institutions that have not yet done so to move swiftly and urgently to adopt a cybersecurity program and for all regulated entities to be subject to minimum standards with respect to their programs. The number of cyber events has been steadily increasing and estimates of potential risk to our financial services industry are stark. Adoption of the program outlined in these regulations is a priority for New York State.\u201d<\/span><\/i><\/p><\/blockquote>\n

The regulations set a new precedent for data privacy regulation specifically by:<\/p>\n

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  1. Being one of the first government entities to pass regulations below the national level regarding cybersecurity (a trend to expect more of).<\/li>\n
  2. Applying very detailed requirements (some would argue \u201cinvasive\u201d requirements) to the implementation and management of measures to address cybersecurity risk.<\/li>\n
  3. A signal that government agencies feel the private sector is not putting forth enough effort in this area.<\/li>\n<\/ol>\n

    What systems and data are targeted?<\/b><\/h2>\n