5 WAYS TO UPDATE FOR CYBERSECURITY PROGRAM (23NYCRR 500)
The New York State Department of Financial Services (NYSDFS) urges all regulated institutions that have not yet done so, to adopt a cybersecurity program. The Financial Services Law is responding to the dramatic increase in cyber threats and cyber attacks that can cause significant financial loss for the Department of Financial Services (DFS). DFS amended the law to file an annual certification confirming compliance with specific regulations. Per the NYSDFS site “ All regulated entities and licensed persons of the Department of Financial Services (DFS) were required to file a cybersecurity regulation Certification of Compliance under 23 NYCRR 500 by February 15, 2018 with an effective date of March 1, 2018." Any covered entities that have missed the deadline of submission should submit the Certification of Compliance via the DFS cybersecurity portal as soon as possible.
What is it called?
As of August 28, 2017; The first compliance period went into effect for covered entities to execute a plan that covered 7 sections out of 16. As of March 1, 2018 the regulations are a year old and the enforcing is continuing to be phased in with the key dates. KEY DATES: (Source: NYDFS )
Financial Institutions Are Secure & Confident with enSilo
5 Ways enSilo can fit into 23NYCRR 500
1. Information security
- enSilo provides rich cross-environment search capabilities to enable continuous monitoring and blocking malicious activity prior to a malware detonating.
- enSilo automates Security Operations Center (SOC) and Incident Response (IR) efforts associated with post-infection.
- BONUS: A new added feature allows classification to map out any inconclusive and suspicious threats including memory infections. Our product can give you the specific location in memory, unlike any other.
3. Device management
- enSilo’s cloud managed, single lightweight endpoint security agent can scale to protect hundreds of thousands of workstations, servers, and virtual endpoints.
- enSilo preserves business continuity and delivers on the promise of security against zero-day malware attacks.
5. Systems and Network Security and Network Monitoring
- enSilo’s platform can block malicious activity with the ability to map out the point of infection and generate rich forensic data reports for security teams to use as the best course of action.
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What constitutes "continuous monitoring" for purposes of 23 NYCRR 500.05?
( Source: NYDFS )
“Effective continuous monitoring could be attained through a variety of technical and procedural tools, controls and systems. There is no specific technology that is required to be used in order to have an effective continuous monitoring program. Effective continuous monitoring generally has the ability to continuously monitor on an ongoing basis, detect changes or activities within a Covered Entity's Information Systems that may create or indicate the existence of cybersecurity vulnerabilities or malicious activity. In contrast, non-continuous monitoring of Information Systems, such as through periodic manual review of logs and firewall configurations, would not be considered to constitute "effective continuous monitoring" for purposes of 23 NYCRR 500.05”.
enSilo accelerates CYBERSECURITY FOR FINANCIAL SERVICES
We understood security solutions sometimes bog down financial services, due to products being heavily inundated with features weighing down business continuity and causing deployment issues. enSilo excells at ease of deployment due to our lightweight endpoint security agent product that uses less than 1% CPU, eliminating latency to traders and power users. In this era of data breaches, ransomware, fileless malware, advanced filed based malware, APT attacks, worldwide cyber attacks, it is nearly impossible to maintain the numerous alerts. enSilo automates incident response, enabling SoC and IR teams to instantaneously map out any inconclusive and suspicious threats including memory infections, eliminating latency/ dwell time to prioritize alerts effectively. Our product can give you the specific location in memory of an infection with insights into all threat and attack vectors, complete with tangible reports, automatically created with pie charts, eliminating the need for any 3rd parties to create a report.
Our product’s automation enabling detection and containment of malware at any time, completely restores confidence in security. Automation allows continuous monitoring with a responsive customer support team to answer any questions. Devices or servers protected by enSilo can be relieved of having to quarantineinfected devices/servers, eliminating any business interuptions by allowing business continuity.
This regulation not only applies to large institutions, but to all financial shops doing business in New York. Ultimately, preventing the consequences of a cyber attack anywhere in the world and simplifying cybersecurity is the defining vision of enSilo. The financial services industry is a constant target for cyber criminals. Safeguarding intellectual property, financial systems and data from exfiltration and preventing downtime are a main priority for a defense plan. Current methods of cyber defense are still primarily focused on securing the perimeter and keeping attackers out without the capability to detect a fileless malware attack or detect ransomware. Most advanced prevention is based on “static file analysis,” which by its very nature, unable to detect the infection. enSilo’s automated IR, aligns to both organizations with large infosec teams, as well as smaller organizations that may not have the manpower to constantly checking logs/alerts. Finally, a product able to provide data in detailed reports of what is happening in the network at anytime enabling continous monitoring, compact into a single agent capable of working in tandem with other security products.