North AmericaEffective from March 1, 2017, with major amendments (Part 500) effective November 2023.

NYDFS Cybersecurity Regulation (23 NYCRR 500)

New York State Department of Financial Services rules forcing strict cybersecurity postures for all covered financial institutions to combat the growing threat posed by cyber-criminals.

Last Indexed via EchelonGraph Automations: March 4, 2026

Global Scope & Applicability

Any person operating under a license, registration, charter, or similar authorization under the NY Banking, Insurance, or Financial Services Laws.

Core Principles & Obligations

  • 1

    Maintain a Cybersecurity Program

  • 2

    Designate a CISO

  • 3

    Conduct Penetration Testing

  • 4

    Implement Multi-Factor Authentication (MFA)

  • 5

    Notify Superintendent of Cybersecurity Events

Technical Implementation Examples

  • Automated detection of unencrypted AWS S3 buckets violating NYDFS Cybersecurity Regulation (23 NYCRR 500) policies.

  • Real-time interception of unauthorized IAM role escalation attempts.

  • Continuous audit logging and Zero-Knowledge Proof attestation of compliant clusters.

Non-Compliance Penalties

Financial Fines

Millions of dollars in fines per incident (historically seen fines ranging from $1.5M to $150M).

Legal Liability

Revocation of the charter or license necessary to do business in the financial capital of the US.

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