“New York Implements Stricter Cybersecurity Regulations in Response to Growing Threats, WSJ Reports”

New York’s financial watchdog published significant updates to its cybersecurity regulations Wednesday, adding strict provisions around board oversight and ransom payments that go further than recent federal rules.

The New York State Department of Financial Services, which oversees banks, insurance firms, mortgage brokers and other financial institutions, expanded its initial cybersecurity rules, published in 2017, because rising cyberattacks require stronger protections, said Adrienne Harris, superintendent of financial services, in a statement.