FTC Mirrors New York DFS With Potentially Costly Cybersecurity Proposal

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The Federal Trade Commission is proposing new cybersecurity requirements to its Gramm-Leach-Bliley Act safeguard rules. Among other requirements, financial institutions would have to make someone in the company responsible for overseeing its information security program, periodically perform additional risk assessments, regularly test the program’s effectiveness, and have encryption and multifactor authentication data controls. The proposed […]
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