Financial Services is launching a cybersecurity unit

This week, the New York State Department of Financial Services (DFS) announced the launch of a new cybersecurity unit that aims to protect consumers and financial service organizations against cyber threats.

According to the DFS, a banking or insurance regulator is launching this division for the first time. The new unit will be in charge of enforcing the Cybersecurity Regulations of the DFS, providing advice on cybersecurity reviews, guidelines and conducting investigations. The cybersecurity division will also provide threats and trends information.

Justin Herring, chief of the United States. New Jersey’s First Cyber Crimes Unit Attorney’s Office is acting as the executive deputy superintendent of the new unit.

Herring has been involved in several important cases, including Newswire hacking, SEC’s EDGAR system scheme, SamSam ransomware attacks on San Diego port and the city of Atlanta, the Silk Route dark Web market plaza, and a Russian hacker who stole hundreds of millions of payment cards. Herring has been involved in several important cases.

“I look forward to bringing my expertise to DFS to lead this new division in combating the growing cybercrime problem, protecting New Yorkers and their sensitive information from attacks and ensuring that DFS continues to be a cyber safety leader,” stated Herring.

In 2017, the DFS announced the first cybersecurity regulation in New York to protect the financial and consumer sectors against cyber attacks.

New York announced earlier this year that a cybercrime brigade will be launched to coordinate efforts for digital law enforcement. This project is the result of a partnership between the NYPD, the Manhattan District Procuratorate, the New York City cyber command, and the Global Cyber Alliance.

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