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Fasoo Talks About NYDFS and Cybersecurity at FinCyberSec 2017
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Ron Arden Talks About NYDFS and Cybersecurity at FinCyberSec 2017Ron Arden, Executive Vice President and COO of Fasoo, Inc., presented Countdown to Compliance with NYDFS 23 NYCRR 500 during FinCyberSec 2017 at the Stevens Institute of Technology in Hoboken, NJ on May 31, 2017.  Ron was part of a day long event that focused on technical, regulatory, process and human dimensions of cyber threats faced by financial systems and markets.

Dr. Paul Rohmeyer, who organized the conference, started the day with opening remarks that set the stage for how the world of business and cybersecurity has changed in the last year.  With constant attacks, like the WannaCry ransomware attack and the ever changing business and technology landscape, financial services companies have a lot to address as they look to safely promote new business models.

Fasoo Sponsored Ponemon Institute Survey On NYDFS 23 NYCRR 500
Cybersecurity News

Click here to see the Countdown to Compliance, Fasoo Sponsored Ponemon Institute Survey of NYDFS 23 NYCRR 500Fasoo sponsored a Ponemon Institute survey to determine the readiness of financial firms doing business in New York State to comply with the new cybersecurity regulation NYDFS 23 NYCRR 500 that went into effect on March 1, 2017.  The regulation includes deadlines to implement procedures and solutions to achieve compliance with the new standards.  Since New York is one of the world’s financial capitals, the state wants to ensure that organizations that operate under the banking, insurance or financial services regulations provide a secure information sharing environment to protect companies and their customers.

“The survey is aptly titled “Countdown to Compliance,” said Dr. Larry Ponemon.  “Our goal is to provide insight into the challenges these organizations face in complying with the demanding new requirements which apply to all ‘nonpublic information’ – at rest, in-transit and shared with third parties.  The survey will provide insight into their efforts to comply over the next 180 to 365 days.”

Ron Arden Talks About Cyber Security on Panel at FinCyberSec 2016
Cybersecurity Data breach Insider threat News Print security

Fasoo talks about cyber security and protecting sensitive data in the finance industryRon Arden, Vice President and COO of Fasoo, Inc., participated in a panel discussion on cyber security priorities in the finance industry at FinCyberSec 2016 at Stevens Institute of Technology in Hoboken, NJ on June 1, 2016.  Ron was joined by Alan Brill, Senior Managing Director from Kroll, and Michael Frank, President of Secure Business Strategies.  The panel was moderated by Dr. Paul Rohmeyer, who organized the conference.

The first topic of discussion addressed the challenges of cyber security in the financial services industry.  Dr. Rohmeyer asked if there are unique priorities of CISOs who are operating in different industries or if they are similar?  Ron mentioned that people either want to disrupt operations or steal data when you experience a cyber security event.  Regardless of industry, the general goals are the same.  There are clearly unique processes in financial services that may not be in other industries, but the basics are the same.

Home Depot to Pay Big for Data Breach
Cybersecurity Data breach

Home Depot to Pay Big for Data BreachData breaches are beginning to cost companies a lot of money.  This isn’t potentially lost revenue or brand damage, which may be hard to measure.  This is cold, hard cash.

Home Depot has agreed to pay as much as $19.5 million to compensate consumers for the data breach it suffered in 2014 that affected more than 50 million cardholders.  That figure includes $13 million to reimburse customers for losses and $6.5 million for a year and a half of identity protection services.  They have also paid out or plan to pay $161 million in total for costs related to the breach.

As part of the settlement, the company agreed to improve data security and hire a chief information security officer (CISO).  That’s good.  As is common in these cases, the company did not have to admit it did anything wrong.  Not good.  I understand this is common in these settlements, but I find it unfortunate, since the customers are affected by the negligence of the company.  To me this is like saying that if I left my front door open and somebody came in and robbed me, it isn’t my fault.  Companies must take data security seriously, but many of them do not even do the basics of locking the front door.

Fasoo Was Busy In October Showing Data Security Solutions
Cybersecurity Data breach Data security Insider threat

Fasoo Had a Busy Month in October Showing Data Security SolutionsThe month of October was very busy for Fasoo as we were all over the US talking to people about data-centric security and how it is the best solution to protect your sensitive information from insider threats and external hackers (APTs).

We started the month by attending the Rochester Security Summit in Rochester, NY.  This two-day event brought together executives and technical staff from numerous organizations in the Rochester area to share intelligence on how to protect their businesses from cyber attacks.  Fasoo was part of a vendor pavilion with our partner Brite Computers showing attendees how to protect data localized from databases, files downloaded from content management systems and those shared through the cloud and on mobile devices.  Ron Arden, Vice President – North America, presented to a packed room on “Closing the Threat Gap: A 21st Century Approach to Minimizing Risk” as part of the Threat Landscape track at the event.