New York DFS announces $3M breach settlement

The New York Department of Financial Services reached a $3 million settlement with National Securities Corporation in relation to violations of DFS’ Cybersecurity Regulation stemming from four data breaches. The breaches, which occurred between 2018 and 2020, were the result of unauthorized access to email accounts for National Securities employees and independent contractors. "As cyber threats continue to surge, the department expects regulated licensees to prioritize cybersecurity and the protection of private data," DFS Superintendent Linda Lacewell said.