Cybersecurity and cybercrime are difficult areas to legislate and control. Changes in technology and tactics pose challenges to regulators, the court system and legislators drafting laws and rules. Any lawyer involved in cybersecurity or the defense of individuals charged with violations must be up to date on the latest definitions, defenses, rules and case law in order to properly defend his or her clients, be they individuals or companies.
On March 1, 2017, new cybersecurity rules went into effect. These regulations apply to financial companies that operate under or are required to operate under a license, permit or a variety of other authorizations. Businesses affected include banks, mortgage brokers, check cashers, insurers and other financial institutions doing business in New York.