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NY Wants To Require Banks To Maintain Cybersecurity Programs

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New York state wants banks and insurance companies to take steps to protect consumers from hacking.

The state's Department of Financial Services announced a proposed regulation Wednesday that would require financial institutions to create and maintain cybersecurity programs intended to prevent illegal access to sensitive personal information.

Many banks and insurers already have cybersecurity programs in place but the proposed regulation would mandate such efforts. State officials say the idea is to ensure that New Yorkers can have confidence that their personal information is being protected.

If it wins final approval from regulators the new rule would take effect March 1.

Copyright 2016 The Associated Press.

Dave Lucas is WAMC’s Capital Region Bureau Chief. Born and raised in Albany, he’s been involved in nearly every aspect of local radio since 1981. Before joining WAMC, Dave was a reporter and anchor at WGY in Schenectady. Prior to that he hosted talk shows on WYJB and WROW, including the 1999 series of overnight radio broadcasts tracking the JonBenet Ramsey murder case with a cast of callers and characters from all over the world via the internet. In 2012, Dave received a Communicator Award of Distinction for his WAMC news story "Fail: The NYS Flood Panel," which explores whether the damage from Hurricane Irene and Tropical Storm Lee could have been prevented or at least curbed. Dave began his radio career as a “morning personality” at WABY in Albany.
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