F5 Labs Report: Cybersecurity Compliance Failures in Financial Services

[Ray_Pompon]

One important piece of the 2021 Application Protection Report revealed that, of all breaches studied in 2020, the financial sector had the dubious honor of the highest percentage: 17 percent (17%).

With breaches, come increased regulatory attention. In 2017, New York’s Department of Financial Services (NYDFS) enacted 23 NYCRR Part 500 regulations, calling out explicit cybersecurity requirements for financial services firms. Since then, three financial services organization that were breached have faced sobering consequences for failing to meet the NYDFS law.

This in-depth article looks at each of those breaches in greater detail.
Check out Cybersecurity Compliance Failures in Financial Services on F5 Labs.