New York Policy Statement 104

• Category: New York Statewide - Real Estate - Financing - Real Estate Syndications
• State: New York
• Control #: NY-REF-PS104
• Format: PDF

Description

Policy Statement 104 New York Policy Statement 104 (NPS 104) is a regulatory and compliance policy issued by the New York State Department of Financial Services (NY DFS). It requires that institutions that conduct business in New York must establish strong cybersecurity policies and procedures to protect their customers’ sensitivdatabasesPS 104 sets forth the minimum cybersecurity standards that institutions must meet in order to ensure the security of their networks and systems. It also requires institutions to have a written cybersecurity policy that outlines the measures taken to protect customer information and assets. The NPS 104 is divided into four main sections: (1) The Cybersecurity Program, (2) Access Controls, (3) Penetration Testing, and (4) Audit Trails. The first section, “The Cybersecurity Program”, requires that institutions must create and maintain a comprehensive, written cybersecurity program that outlines the policies and procedures they have in place to safeguard the security of their networks and systems. The second section, “Access Controls”, outlines the measures that must be taken to secure access to customer information and assets. This includes the implementation of multi-factor authentication, strong passwords, and encryption of customer data. The third section, “Penetration Testing”, requires institutions to conduct regular, independent tests to identify potential vulnerabilities in their networks and systems. These tests must be conducted by an independent third-party and must be conducted at least annually. The fourth section, “Audit Trails”, requires institutions to maintain accurate records of their cybersecurity activities and programs. These records must include a detailed log of all user activity, including logins, file access, and system changes. In summary, New York Policy Statement 104 is a set of regulations and standards that require institutions conducting business in New York to maintain strong cybersecurity policies and procedures to protect customer information and assets. NPS 104 is divided into four sections covering The Cybersecurity Program, Access Controls, Penetration Testing, and Audit Trails.

New York Policy Statement 104 (NPS 104) is a regulatory and compliance policy issued by the New York State Department of Financial Services (NY DFS). It requires that institutions that conduct business in New York must establish strong cybersecurity policies and procedures to protect their customers’ sensitivdatabasesPS 104 sets forth the minimum cybersecurity standards that institutions must meet in order to ensure the security of their networks and systems. It also requires institutions to have a written cybersecurity policy that outlines the measures taken to protect customer information and assets. The NPS 104 is divided into four main sections: (1) The Cybersecurity Program, (2) Access Controls, (3) Penetration Testing, and (4) Audit Trails. The first section, “The Cybersecurity Program”, requires that institutions must create and maintain a comprehensive, written cybersecurity program that outlines the policies and procedures they have in place to safeguard the security of their networks and systems. The second section, “Access Controls”, outlines the measures that must be taken to secure access to customer information and assets. This includes the implementation of multi-factor authentication, strong passwords, and encryption of customer data. The third section, “Penetration Testing”, requires institutions to conduct regular, independent tests to identify potential vulnerabilities in their networks and systems. These tests must be conducted by an independent third-party and must be conducted at least annually. The fourth section, “Audit Trails”, requires institutions to maintain accurate records of their cybersecurity activities and programs. These records must include a detailed log of all user activity, including logins, file access, and system changes. In summary, New York Policy Statement 104 is a set of regulations and standards that require institutions conducting business in New York to maintain strong cybersecurity policies and procedures to protect customer information and assets. NPS 104 is divided into four sections covering The Cybersecurity Program, Access Controls, Penetration Testing, and Audit Trails.